Tax planning is a legal and smart way to ensure your taxable income is as low as permissible. It helps to have some knowledge of these exemptions and deductions. This makes it easier for you to compute and file your tax return.

Moreover, it won’t hurt to have a tax consultant, who can give great investment advice. You’ll probably get to know more tax saving options with a good consultant.

Sections 80C to 80U of the Income Tax Act of India—1961, lists and explains all permissible options to save tax and your eligibility to claim benefits. You will also find information on the maximum limits of each section. As mentioned before, it always helps to be aware of these sections.

You, as a responsible taxpayer, must ensure you’re complying the legal framework, provided by the Central Government. You must also remember, you cannot misuse tax laws to evade or avoid taxes. Tax avoidance and evasion are considered illegal in India, you may be liable to face prosecution.