 "tax, taxes, I-T, retunrs, filing")
It’s that time of the year when your employer asks you to submit proof of investment in income-tax (I-T) saving products, so that it can deduct the correct amount of tax deducted at source (TDS). If investment proof is not furnished, employers could deduct more TDS than necessary. Your March salary will bear the brunt and will be considerably lower than the usual amount. But one deduction many forget to avail of is expenses incurred on preventive health check-ups.
Taxpayers think only investing can help them save tax. However, the I-T Act allows deduction on expenses as well.
Naveen Wadhwa,
