Paragraph match score 89.6%
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How will the Income Tax act of 1961 help you to save tax?
Section 80E helps you out to deduct the interest paid on your education loan to an extent. Under Section 80G, you can deduct taxes on the amounts which you paid as a donation to charities, social organisations, relief funds, etc.
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How to Save Tax with Saving Plans?
Similarly, under Section 80E, taxpayers can claim a deduction for the interest paid on an education loan for higher education. Section 80G provides for tax deduction on the amounts paid by you as donations to charities, social organisations, relief funds etc.