Welcome to our guide to Indian income tax allowances and deductions. As taxpayers, it is important to understand the various deductions and deductions available to us as they can significantly reduce our tax liability. In this article, we cover everything you need to know about income tax deductions and credits so that you can make the right decisions when filing your tax return. Therefore, Understanding Income Tax Deductions Income tax deductions are specific deductions that can reduce your taxable income. The following are some of the most common income tax…