ITR FY20: Simple ways to save income tax - Photos-1
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ITR FY20: Simple ways to save income tax

The last date to file Income tax for the financial year 2019-20 is fast approaching and individuals are again scrambling to find ways to reduce their income tax outgo. Filing income tax has become much easier now and tax filers can select from two different tax regimes.
While the new regime is pretty straightforward and somewhat beneficial for people with no investments, experts recommend the older regime for people who have sizeable investments.
Individuals filing income tax under the old regime have a host of legal ways to save tax under the Income Tax Act, 1961. Having said that, here are a few simple ways which will allow you to reduce tax outgo: