Budget 2018-19 & the Finance Bill 2018 have been tabled in Parliament. The Income Tax Slab rates have been kept unchanged by the Finance Minister for the Financial Year 2018-19 (Assessment Year 2019-2020) . Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can save taxes to certain extent through proper tax planning. The Indian Income Tax act allows for certain Tax Deductions / Tax Exemptions which can be claimed to save tax. You can subtract tax deductions from your Gross Income and your taxable income gets reduced to that extent. In this post, let us go through the Income Tax Deductions List FY 2018-19 . I hope you find this list useful and helps in planning your taxes well in advance. Income Tax Deductions List FY 2018-19 / AY 2019-20 (Chapter VI-A deductions list) Section 80c The maximum tax exemption limit under Section 80C has been retained as Rs 1.5...
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