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It is at the fag end of the financial year that many of us scurry about to figure out the best way to save on income tax. And in a bid to save as much as tax as possible in the last minute, many end up making financial blunders that can cost them dear. We invest in products without weighing the pros and cons properly and don't make full use of the various deductions and exemptions available to us.
If you want to make the right decisions this tax-saving season, here's a handy guide with stories that touch upon every aspect to help you manage your tax --right from making full use of the various sections of the income-tax Act, to which are the financial products and expenditures that can help you save the most tax, and how to go about using your office reimbursements.
5 factors to consider before making fresh Section 80C investments for FY18 The last three months of the financial year is when many of us scurry around to make as many tax savings investments as possible. If your tax-saving efforts are last minute the chances of locking funds in an unsuitable investment are quite high. Here is how you can do last-minute tax planning to not only reduce your tax liability, but also save towards goals.
Submit tax saving proofs to your employer on time to avoid paying excess TDS It is that time of the year accounts departments of organisations will start sending out emails to employees regarding the submission of investment proofs to avoid excess deduction of TDS. Here's a list of documents that you should submit to your employer to avoid the excess TDS deduction.
