National Savings Certificates – This is a tax saving bond issued by the Government of India.

Claiming income tax refund is a technique as to how to save tax. There are income tax returns filed at the end of each financial year but not all people know the procedure of claiming tax refund. It is not difficult to claim tax refund online when you have paid more tax to the department than the actual tax liability. But in order to claim refund the following conditions have to be satisfied: Payment of advance tax has to be made. Payment of self assessment tax has to be made. TDS deducted is higher than the total tax liability of a taxpayer. How to save tax becomes a crucial question when you file the income tax returns for a particular year. The relevant Income Tax Return (ITR) form applicable to a person determines the procedure of claim refund. How to save tax becomes a crucial aspect when you are filling up your ITR relevant to you. In order to save tax, the person has to fill up the ITR sheet, and click on the Validate tab on the Verification sheet and Taxes paid. According to section 244A of the Income Tax Act, interest amount shall also be paid to a taxpayer if a refund is shown or reflected in his or her account. However the interest received on refund amount is also taxable. The return filed by an individual is processed by the income tax department which shows that the tax calculation of the individual person concerned matches tax calculation of the department, or there is a tax demand or the tax calculation of both the individual and the department matches and the refund claim is accepted.