Share some tax benefit ideasApart from income tax, these days we pay many other taxes too. Almost a reasonable part of our income goes out from our pocket in the form of tax. However, they are levied for a good reason, it is always seen as loss from our end. There is one another reason to see it as loss, because, the Government benefits to a middle class people are also getting less these days, which is so obvious in this year budget too.
So, now my question is, in what are all the legal ways to avoid tax.
Suggest some investments that gives tax benefits.
Loans and Interests paid that are deductible from annual tax
Is it good to purchase from nearby retail stores, farmers market, Milk Man who don't provide bills? Does online purchase reduces/excludes sales tax?