Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. Here are some tax-saving strategies for Tamil Nadu residents: Utilize Deductions: Maximize deductions under Sections 80C, 80D, and others. Section 80C allows deductions for investments in Public Provident Fund (PPF), Employee Provident Fund (EPF), National Pension System (NPS), and more. Section 80D provides deductions for medical insurance premiums paid for yourself and dependents. Explore additional deductions for expenses like education loan interest and donations. Invest Strategically: Channel your savings into tax-friendly investments. Consider Equity Linked Savings Schemes (ELSS) for potentially high returns with a three-year lock-in period. Utilize the NPS scheme for long-term wealth creation with tax benefits. Claim House Rent Allowance (HRA): If you pay rent, claim HRA as a deduction. The deductible amount depends on your city, your accommodation type (rented vs. owned), and your salary structure. Plan for Capital Gains: When selling assets like property, plan to minimize capital gains tax. Invest the sale proceeds in a new house within stipulated timelines to avoid LTCG (Long Term Capital Gains) tax. Utilize Professional Tax Exemption: If your professional tax liability is low, explore claiming the exemption available for income below a certain limit. We at Saanvika Legal Associates offer various legal services such as Trust deeds, Financial law, Insurance law, and other laws including Environment, Consumer, Property, Banking, Tax, Cyber Constitutions, Labor, Civil, Criminal, Family, Property, registration, Getting docs, and so on. Also, you can consult all aspects related to Legal notice, documentation, Legal registration, Property organization, forming companies, Family legal consultation, Civil and Criminal legal consultants, and Litigation of finance and property.