Easy Ways to Avoid TDS Under Section 80C, 80EE and 80D

All Ways to Avoid Tax Deducted at Source

If the payment is more than the specified threshold then a company and the individual furnishing the payment is needed to deduct tax at source as per the income tax act. Tax Deducted at Source (TDS) has to be cut down at the price estimated by the tax department.

The deductor is said to be the person or the company that files the payment while on the other side the term deductee is said to be the one a company/person who takes the payment. It is the responsibility of the deductor to cut out the TDS and should deposit it in the specific account of the government.

You can save your salary from getting deducted through investment in tax-saving schemes. under Section 80C you must attempt and claim for tax advantages as much as possible.

There are various ways so to get avoid paying the TDS through PPF investment (Public Provident Fund), NPS (National Pension System), ULIP (Unit-linked Insurance Plans), Sukanya Samriddhi Yojana, Tax Saving FDs, ELSS Equity Funds. Your child’s payment copies of the school receipt on which the seal of school is embossed also a tax-deductible object.

Under Section 80C an individual can save up to Rs 1.5 lakh every year for rented as well as occupied properties. A tax privilege can be availed through the employees as permitted for the expenses sustained for traveling when the person is on leave anywhere in the nation; this is due to LTA which comes under the total cost to the company (CTC).

Under section 80EE the tax advantage is permitted for the people who are purchasing a house for the first time. On the home loan, they might avail themselves of the tax benefit. Under Section 24 this deduction of Rs 2 lakh is tax-deductible.

A privilege for the house rent allowance (HRA) can be availed through the people residing in the rented houses. The HRA permits the people to get their taxes partially lower if you live on the rent. But only rented housing will be given an allowance for the expenses and people can avail it by providing the Rent receipts, etc.

Under section 80D a deduction can be availed of up to Rs 25000 for the medical premium given for itself, children, and your spouse in a single financial year.

People can also consider investing in the National Pension Scheme (NPS) and also get tax deductions on giving the donations.

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