The article is good.However,there is a limit to the extent investment can be made.Beyond that IT has to be paid as per the slabs of the income accrued and it is difficult for an average man to save tax by making tax saving investment as certain expenses in the family with limited income scuttles the idea of saving IT
This must be avoided. It involves lot of work.Getting the return of the excess amount deducted takes a long time and the government pays 12% interest. This can be avoided,by stopping TDS for Senior citizens whose gross income does not exceed 8 lakhs.
There should be uniform Tax of 20%, no slabs, no exceptions. No need for any Medical Bills, Rent Receipts and such - these are unproductive activities.
House loan is the best option to save taxes, especially for people with a 5 digit CTC.
If you can afford a 20% down payment, my advise to all would be to own a sweet home, no matter how big or small it is and start paying EMIs instead of shelling out rent on 1st of every month, which happens to come so soon...
