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What you need to know about tax savings
As responsible citizens, our duty is to meet our tax obligations every year. So, there's no escape from tax. However,the government has made certain savings 'tax-deductible' and we owe it to ourselves to benefit from these options,which could translate into savings for the future.
This section will tell you what the new tax rules are and how you can benefit from them.
- Get to know your tax bracket
- How much can you save?
- Which tax saver is right for you?
- The ELSS advantage
- You don't need to invest an entire lakh to cut your tax bill
Everybody who earns an income falls under a 'tax bracket'. It is important to keep in mind that your 'taxable income',
or income after deductions, defines your tax bracket which could actually be lower than the amount of money you have
earned over the year. The current income tax law has determined four main tax brackets, which are as follows
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All About ELSS 