Investments for claiming tax benefits on our salary

Annamrita0425 Jul, 2022Other

As per the new regulation, income above 2,50,000 will be taxed. In the income above 2,50,000 suitable investments can be made to claim tax befits. House loan interest, pension funds, life insurance, etc. are also eligible for claiming benefits. Other than these, we can make NGO donations, charities, or donate to any other registered charitable organizations. Even online donations to NGOs and other charity organizations are eligible for tax benefits. Proper proof of these investments must be provided when required. It must be noted that any donation of more than 2000 should not be made in cash. Donations made in kind are also not eligible for tax deductions.