Income tax rebates: Salaried can cut their outgo drastically

Jun 10 2014, 11:14 IST
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Many income tax payers are not aware of provisions that can help them slash their outgo. (Reuters) Many income tax payers are not aware of provisions that can help them slash their outgo. (Reuters)
SummaryBy making use of lesser-known provisions of Income-Tax Act, salaried can cut outgo drastically.

come with a three-year lock-in, are routed to the equity market through mutual fund houses. Ulips, which come with a five-year lock-in, are routed through insurance companies to equity markets.

Clearly, with astute tax planning, salaried employees can take advantage of some of these lesser-known beneficial provisions.

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