There are various types of taxes imposed on various things. In India you can save Income tax after marriage. Everyday millions of people get married. People have this mindset of increasing expenses after marriage. There are five ways people who are married can save Income tax.
Five Ways To Save Income Tax After Marriage
Tax Benefits On Home Loan: If any individual buy a house as a couple. Then by taking a joint home loan, the tax exemption increases from Rs 1.5 lakh to Rs 3 lakh.
Tax benefits On Medical And Health Insurance: Income tax benefits are also available on taking health insurance. If anyone from the couple is working, then you get income tax exemption on premium payment of health insurance up to a maximum of Rs 25,000.
Tax benefits On child Education: Another tax benefit for married couples is on the education of children. If the couple pay is paying the tax, then the exemption increases to Rs 3 lakh.
Tax benefits On Leave Travel Allowance: If both you and your partner are taxpayers and working, then you can enjoy a total of 8 tours together in a period of four years. And save income tax.
Tax Benefits On Property: When you move from one property to another, you can avail income tax exemption as a couple. If you buy a second property in your partner’s name and if he/she does not already have any housing property in his/her name, you can save tax by showing him/her as a taxpayer, as reported by TV9.
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