Women can save tax worth lakhs of rupees

income tax: As soon as the month of March arrives, the tension of paying income tax starts. However, the process of filing income tax returns has been made very easy by the government. Along with this, income tax payers are being given two options to pay tax, old tax regime and new tax regime. Income Tax Tax payers are also given tax exemption under different provisions. There are many options for women also. For example, women can claim standard deduction exemption up to Rs 50 thousand from the total income. Let us know what other options women can use to save tax.

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Where will you get exemption in income tax?

If you income tax If you file in the old regime, you can avail exemptions under various sections of income tax. For example, under Section 80C of Income Tax, you can save tax up to Rs 1.5 lakh in tax saving schemes like Public Provident Fund (PPF), National Savings Certificate (NSC) and Employees Provident Fund (EPF). Apart from this, if you pay the premium for health insurance of yourself, husband, children or parents, you can also get income tax exemption under Section 80D of Income Tax. Apart from this, you can also get income tax exemption under Section 80G by donating to a religious trust.

What are the options to save tax?

If you also your income tax If you are looking for a way to save, then you should invest before the end of the month of March. If you have a daughter and her age is less than ten years, then you can invest in Sukanya Samriddhi Yojana. This is a scheme giving excellent returns run by the Central Government. In this, tax exemption is available on investment under Section 80C. You can also get tax exemption by investing in ELSS mutual funds. If you invest up to Rs 1.5 lakh in PPF account, you can get tax exemption on the deposited amount. At the same time, you can claim an extra deduction of Rs 50 thousand on investment in the National Pension System.

You will also get benefits on home loan

If the home loan is in the name of a woman, then you can claim tax exemption under the Income Tax section. Under Section 80EEA of Income Tax, first-time home buyers get tax exemption on home loan interest up to Rs 1.5 lakh. Whereas, women can claim exemption on interest of Rs 2 lakh under Section 24 of Income Tax.