1. Tax planning through a home loan
A home loan will be allowed for deduction for the repayment of principle amount of 80C. The deduction of interest payment under the section 24. In some cases the maximum deduction will be allowed for Rs.2,00,000 and no limit to claim this deduction on home loan.
2. Save tax through education loan
The taxpayer has taken the higher education loan in which legal guardian can claim the deduction and save taxes under section 80E. The deduction is allowed only the repayment of interest and no limit in the principle amount of an education loan.
3. Long term capital gains from the sale of equity share
The public is encouraged to invest in mutual fund and equity share. Then the long term raise from the sale of equity share will be exempted income tax and provide a shares are held in less than 1 year.
4. Save tax under the section
• Section 80D: Medical insurance premium on self or children or spouse
• Section 80DD: Medical Treatment of handicapped dependents
• Section 80DDB: Treatment of specified diseases.