How to save tax on salary income of 30 lakhs
Web21 dec. 2024 · Income tax on 30 lakhs salary An additional 4% of the total tax payable is taken as a health and education cess. People making more than 50 lakh rupees … Web26 dec. 2024 · In this article, we are listing 10 ways that will help you to save tax other than 80C. 1) Tax saving with NPS under Section 80CCD (1B): Taxpayers can save additional tax by investing up to ₹ 50,000 in NPS. This is over and above the benefit, they can claim on contributions under Section 80c.
How to save tax on salary income of 30 lakhs
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Web16 dec. 2024 · How to Save Tax for Salary Above 20 Lakhs? We already learned above that the best way to save taxes on salaried income is to avail maximum deductions on … Web10 apr. 2024 · The straight deduction of Rs 3.5 lakh will certainly help in reducing tax under old tax regime. 5) If you have an HRA deduction to claim, the old tax regime might be better for you. HRA...
WebSenior Citizens’ Savings Scheme (SCSS) ..." Puneet Nagpal on Instagram: "Earn risk free monthly income of 41,000 without taxes! Senior Citizens’ Savings Scheme (SCSS) offers an interest rate of 8.2 per cent for the April-June quarter of 2024. Web11 apr. 2024 · If your tax-saving investments is above Rs 3.58 lakh, old tax regime will be better for you, according to calculation by Clear. If your tax-saving investments are less than Rs 3.58 lakh then New ...
Web2 aug. 2024 · According to the Income Tax rules, you can get tax exemption on interest payment up to 2 lakhs. This tax exemption will be available only if the property is 'self-occupied'. 2. Claim Principal Amount of Home Loan You can avail tax exemption under section 80C on the principal payment of the home loan. However, this limit cannot … WebEmployer can have option of subscribing to both NPS & EPF. Keeping both makes salary more tax efficient, though take home may go down Gift Voucher worth Rs 5,000 per annum is tax free. Some companies give such vouchers at birthdays or anniversaries! Company owned cars give much more tax benefit and hence is recommended for high salaries.
Web3 jun. 2024 · While option two may sound enticing, the right salary structure and tax-saving investments will trim your tax bill by a considerably larger extent. Your entire Salary or …
WebSachin Gupta is Fellow member of ICAI and has taught Taxation(Direct & Indirect) to over 30,000 students all across India by Face to Face and by various othe... reach a plateauWeb21 jul. 2024 · If your taxable income is between Rs 2.5 and Rs 5 lakh, you will be taxed at 5%. If your taxable salary is over Rs 5 lakh and less than Rs 10 lakh, you are liable to pay Rs 12,500 plus 20% of your income over Rs 5 lakh as tax. If your income is more than Rs 10 lakh then you will be taxed at 30%. how to split using javascriptWeb13 apr. 2024 · Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or … how to split user stories in rallyWeb8 apr. 2024 · “The new income tax regime is the default regime now, but taxpayers can opt for the old regime as well. From April 1, 2024, anyone earning up to Rs 7.5 lakh (With the standard deduction of Rs 50,000) does not need to pay any income tax,” Adhil Shetty, Chief Executive Officer (CEO) of Bankbazaar.com said. reach a real personWeb1 mrt. 2024 · You can pay zero tax on a salary of 15 lakhs, provided you have invested in tax savings options and claim applicable deductions and exemptions. Under the old … how to split up word documentWeb13 mrt. 2024 · According to the budget, the income Tax rate for individuals with a salary of ₹8 lakhs or more will be 10%. This means that you will need to pay income tax on this … how to split using . in javahow to split up workouts at gym