Evading taxes is a crime, but avoiding and saving taxes is right of every law abiding citizen and there are many strategies structured to save your taxes and bring down your tax liabilities.
Some of the methods one can opt for saving taxes are-
1. Tax laws permit investors to adjust the cost of the asset to inflation during the holding period, and with inflation has been the cause of worry for most of us, the tax payer can take advantage of the indexation and reduce their tax bills, however not all investments are covered under this item and only certain capital assets, debt funds, gold ETFs are eligible for deduction.
2. If you gift money to your wife, and the same is invested in her name, the tax laws will club her income with yours and the advantage is that the clubbing takes place at the [...]