How to Save Tax in 2022?

Nancytreo30 Jan, 2022Finance

You can double up your benefits by investing in an ELSS fund via a Systematic Investment Plan (SIP). The tax deduction under this section was last revised to ?1,50,000 in FY 2014-15. Over the years, the cost of living has gone up exponentially. The current pandemic has only compounded it. Therefore, the limit of ?1,50,000 must be revised and increased to a minimum of ?2,50,000 in Budget 2022. This will up the chances of the government to achieve its aim of ?Ease of Living? and support individual taxpayers in reducing their tax burden.