This is a usual scenario with all corporate employees in India, where in Dec one gets a mail from HR to submit tax saving proofs to avail tax saving benefits, given by the Tax department under various heads, key being 80C, 80D & section 24.
Confused, where to go, contradicting advice, & above all big Gyan by all on do’s & don’ts. Today I thought of writing something different, a guide to make you plan & execute same, which will not take more than 10 minutes of your time & easy to use.
I have divided this feature into three parts, where part one covers 80C, to avail exception for 1.5lacs, part two will cover 80D, to covers 0.35lacs & part three covers section 24, towards 2lacs.
In short, your investments amounting to 3.85lacs will attract no tax… if you plan well.