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BubblyPotato
BubblyPotato
Stealth

Tax saving hacks

Outside of the standard 80C BS, is there any major way to save tax? I can’t stand a small set of people giving out so much tax to the government and so much burden on the other side without any significant social benefits. This one’s especially for the experienced ones.

22mo ago
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GoofyDonut
GoofyDonut
Stealth22mo

"political donations" Downside is you'll need to spend money in cash

DizzyJellybean
DizzyJellybean
Zomato22mo

Some references

QuirkyNarwhal
QuirkyNarwhal
Coinbase22mo

I can give you some options:

  1. Buy term insurance (this is in 80C though)
  2. Pay your parents health insurance bill
  3. Do NPS (Min is 50K but you can do more if it fits under your risk criteria)
  4. Political donation (This is getting risky nowadays though, IT dept is raiding inactive parties)
  5. Then if you have home loan/education loan you save taxes in that.
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