This is that time of the year when employers ask you to furnish proofs of investments and expenses that qualify for tax deductions. The income-tax Act allows you to make claim for investments made in certain instruments, such as: Public Provident Fund, National Savings Certificate, equity-linked savings schemes and insurance premiums. Expenses such as tuition fees, interest on home and education loans and house rent paid by employees are also exempt from tax to a certain extent.
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