Reducing Tax Liability by using Deductions under Chapter VIA

April 1, 2022

All of us engage in some economic activity and earn an income to make a living. Based on the quantum of income, we, as citizens of this country have a constitutional duty to abide by i.e. pay taxes and contribute to the nation building efforts of the Government. Nevertheless, it is equally important to save tax, to the extent possible, through prudent tax planning. Remember the proverb, “A penny saved is a penny earned”.

In this session of Money Simplified, we will tell you how to reduce your tax liability optimally by using deductions under Chapter VIA of the Income Tax Act, 1961.

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