Hello friends,
I am really confused with taxation. None of my collegaues are aware how exactly tax works (i.e. on how to save tax).
Kindly help me with following queries:
1) If I declare investment using ITR I form then I am saving tax for next year?? for which year income i am saving tax exactly?
2) If I earn money from 1st April 2014 - 31st April 2015 then by when should I invest so that i can save tax?
Thank You!