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Quick quiz: Tax Saving Basics

5 questions. No time limit. See how much you have understood; your answers are explained at the end.

1. In which regime are most deductions like 80C available? Old regime New regime Both equally Neither

2. What is the overall limit of Section 80C per year (as per current rules)? ₹1.5 lakh ₹15,000 ₹15 lakh No limit

3. Section 80D is mainly for: Health insurance premiums Car loans Gold purchase Credit card bills

4. What is the best way to approach tax-saving products? Buy for the main purpose first; tax benefit is a bonus Buy anything in March Buy only what gives the biggest tax saving Avoid insurance

5. When is the best time to plan tax saving? At the start of the financial year (April) On 31 March After filing returns Never

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