Introduction
Tax season is often stressful for working professionals, freelancers, and business owners. The good news? With smart tax planning, you can significantly reduce your tax liability while staying fully compliant.
At Swarnum Financial Solutions, we specialize in guiding professionals through ITR filing, GST returns, and investment-linked tax planning. Here are five proven tax-saving strategies for 2025 you shouldn’t ignore.
Maximize Deductions Under Section 80C
- Invest up to ₹1.5 lakh in instruments like ELSS mutual funds, PPF, EPF, or NSC.
- ELSS offers dual benefits: market-linked returns + tax savings.
Use NPS for Retirement + Tax Savings
- Contributions to the National Pension System (NPS) are eligible for deduction under Section 80CCD(1B), up to ₹50,000 extra.
- This is in addition to the ₹1.5 lakh limit under Section 80C.
Claim HRA and Home Loan Benefits
- If you live in rented accommodation, claim House Rent Allowance (HRA).
- If you own a home, claim deductions on home loan interest (Section 24b) and principal repayment (Section 80C).
Health Insurance (Section 80D)
- Premiums paid for self, spouse, children, and parents are deductible.
- Up to ₹25,000 for self/family + an additional ₹50,000 for parents above 60.
Consider Professional Expenses and Business Deductions
- Freelancers and consultants can claim work-related expenses (office rent, laptops, internet, etc.).
- This reduces taxable income while keeping finances organized.
Bonus Tip: Opt for the Right Tax Regime
- Compare the old regime (with deductions) vs. the new regime (lower rates, fewer deductions) before filing.
- Professionals often benefit from the old regime due to higher deductions.
Final Thoughts
Tax planning is not about avoiding taxes – it’s about paying the right amount legally while maximizing your savings.
At Swarnum Financial Solutions, we help professionals, consultants, and entrepreneurs with ITR filing, GST compliance, and holistic tax planning so you can focus on growth while we handle your taxes.
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