How to save income tax in 2019?

| February 20, 2019

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The tax saving season is in full swing as the financial year closes on 31st March 2019 and you want to explore all possible avenues to save as much tax as possible. While the new Interim Budget 2019 has made some very good changes, these changes would be applicable from the next financial year (1st April, 2019 onwards). You would, therefore, have to file your taxes on 31st March, 2019 as per the existing tax norms. Many of you approach seasoned tax practitioners to help you prepare your taxes while some of you like to file your taxes yourself. Whatever be your choice of tax filing, one thing which every one of you looks for is the way to save the maximum possible tax outgo. So, for all of you taxpayers, here are some of the ways of saving your tax outgo this 2019 when filing your returns for the financial year 2018-19. Utilize Section 80C to the fullest. Section 80C is a blessing for taxpayers as the section helps you reduce your taxable income by INR 1.5 lakhs. The section lists some expenses and investments which are tax-free in nature. If you have incurred such expenses and/or make investments in the tax-free avenues, you can claim a deduction of up to INR 1.5 lakhs under this section. Some common instances of tax-free options under the section are as follows.

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Santam Insurance

or 100 years, Santam has been in the business of protecting South Africa’s most important assets and valuables. Good and proper then. Good and proper now. Good and proper always. We are the largest general insurer in South Africa, with a market share in excess of 22.5%, providing short-term insurance products through broker networks and direct sales channels. Established in 1918, we offer personal, commercial, and corporate insurance solutions. Santam is a subsidiary of Sanlam Limited and has been listed on the Johannesburg Stock Exchange (JSE) since 1964.

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