IRA is nothing but the individual Retirement arrangement is one method by which people can save money for a happy old age life. Hence during the working years, we can save little by little and this in turn could lead to greater savings. This is also a method to escape from the heavy tax which is being levied on us. Thus we have so many rules and regulations which are associated with IRA. The IRA Rule include: Only if you file your tax papers properly, you can get the benefits of tax deduction for the money you pay for the IRA. Also we will have to know the eligibility first in order to acquire the deduction in tax as per the law. If in case you are married, then we have so many schemes where we can go in for a joint venture but for high paying salary men and women the deduction is generally not allowed. But when we take up the Roth IRA, we must note that it is not tax deductible and therefore we have some Roth IRA Rule to be taken care of before we start investing in it. There are stringent rules for withdrawal and only if all regulations are followed properly we can withdraw the money without any penalty. Also IRA deduction limits have been framed according to various schemes and norms which are present, we can proceed on the scheme which suits us the best.