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Are there any investment strategies to lower taxes in the 40% tax bracket?

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  • Are there any investment strategies to lower taxes in the 40% tax bracket?

    Certainly! In the 40% tax bracket, some effective investment strategies to lower your tax burden include - Maximizing your contributions to tax-deferred retirement accounts like the Provident Fund (PF) and National Pension System (NPS). These investments can significantly reduce your taxable income, Investing in tax-efficient mutual funds, such as equity-linked savings schemes (ELSS), which offer tax deductions under Section 80C, Considering real estate investments, as the rental income and capital gains can be structured to minimise your tax liability. Remember, it's always best to consult a qualified financial advisor to develop a tailored investment strategy that suits your specific financial goals and tax situation.

    Source - https://accountingbyte.com/40-tax-bracket/
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