Currently earning 32L fixed, and in dire need of tax savings tips.
80C 1.5L is overflowing
I have a Home Loan (60L)
No NPS
What are the ways can i save tax? Paying 8L + 😭

likefunny
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Once you cross the 30% threshold, all you can do is pay the tax and move on. The best you can do is utilise the old regime completely, but that's it. Even after utilising it you'll see the money go away in the form of taxes. Think of it as something which you are donating since nothing can be done for this😅.

like

Salaried people unfortunately don't have much choice in terms of tax savings. I would suggest to create passive income which attract 0-minimum tax (like LTCG from equity, MFs), so that my overall tax rate look less.

like

+1

NPS investment will help. Saves you 50k from taxable income and also helps in giving mutual fund like benefits.

You can put some amount under NPS.
Also can get Health insurance for yourself and family.
If you have children then one education loan for them can probably save some taxes too.

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