6 tax-saving tricks married couples in India are missing out on

Getting married doesn't merge your tax identity with your spouse's. You still file separate returns, which actually opens the door to smart strategies most couples never use. Here are 7 ways to cut your combined tax bill this year.

Every taxpayer in India is assessed individually, so you can choose the Old Regime while your spouse chooses the New Regime. If one of you has a home loan, HRA, or big deductions, the Old Regime might work better for them. If the other has fewer investments, the New Regime's lower slabs and Section 87A rebate could save more. Evaluate separately instead of copying each other.

Each spouse gets their own ₹1.5 lakh limit under Section 80C, so together you can claim up to ₹3 lakh through ELSS funds, PPF, or tax-saving fixed deposits. On health insurance, Section 80D lets you claim ₹25,000 for your family and another ₹25,000 for dependent parents, rising to ₹50,000 if they're senior citizens. Structuring these together instead of individually can significantly lower your combined tax outgo.

If you're buying a house together, list both partners as co-owners and co-borrowers on the loan. Each of you can then claim up to ₹2 lakh in interest deductions under Section 24(b), doubling the benefit compared to a single applicant. On top of that, principal repayments can be claimed under Section 80C, adding up to ₹3 lakh combined between both spouses.

If you gift money to your spouse and they invest it, the income from that investment gets clubbed with your income and taxed in your hands under Section 64, not theirs. However, if your spouse takes that earned income and reinvests it elsewhere, the returns on this second investment are taxed as their income. Understanding this distinction can help you plan gifts more efficiently.

Under Section 56 of the Income Tax Act, cash or property received as wedding gifts from immediate family and specified relatives is fully exempt from tax, with no upper limit on the amount. This makes wedding gifts one of the few genuinely tax-free windfalls available to couples starting their financial life together.

If both partners are employed and eligible for Leave Travel Allowance, don't let one person's exemption go unused. Alternate who claims LTA for family trips across different years to maximize the total tax-free travel benefit you receive as a household. Combined with smart regime selection and doubled deductions, thoughtful planning like this can meaningfully lower what you both owe.