Invest in tax-saving investments such as Public Provident Fund (PPF), National Savings Certificate (NSC), Equity-Linked Savings Scheme (ELSS), and Tax-Saving Fixed Deposits (FD).
Utilize deductions and exemptions available under Section 80C of the Income Tax Act, such as tuition fee for children, principal repayment of home loan, and contributions to pension plans.
Take advantage of deductions available under Section 80D for health insurance premiums, and Section 80E for interest paid on education loans.
Consider renting out a property and claim deductions for interest on a housing loan and repairs and maintenance expenses.
Use exemptions available for long-term capital gains on sale of property and equity shares.
Take advantage of tax benefits available for charitable donations under section 80G.
Keep records of all investments and expenses to claim deductions and exemptions at the time of filing taxes.
Consult with a tax professional or financial advisor for personalized advice on tax-saving strategies.
It's important to note that the tax laws and regulations in India are subject to change, and it's always a good idea to keep yourself updated with the latest tax laws and regulations
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