Hi Fishes,

Need help, can someone suggest what are the best options to save tax for below salary structure?

Post Photo
like
Posting as :
works at
You are currently posting as works at

Bhai..ab kab sikhega..26 lpa hogaya

funnylike

Coming to your question, following are some of the most used ones -

1. 80C - PF, PPF, Mutual Funds, LIC, Life Insurance Premium, Sukanya Samriddhi and others - Max INR 1,50,000/-

2. HRA - Show your rent receipt and get exemption on the rent paid

3. In case you own a house and it was bought on loan, you are eligible to claim deduction up to INR 2,00,000/-

4. Health Insurance Premium paid for your family and your parents.

5. Check in your company if there are ways to apply for VPF and NPS. Learn about these as these are good tax saving machanism.

6. Education Loan interest paid.

At your salary, you are bound to pay significant amount of income tax but these investment will soften the blow. Good Luck.

like

Thanks for detailed explanation

Section 80 C The maximum amount deductible under Section 80C and 80CCC is Rs. 1,50,000

National Pension Scheme - 80 CCD (1B)  Additional exemption of Rs.50,000 over and above Rs.150,000

Medical Insurance Premium for self / spouse / child - Section 80 D Maximum limit: Rs.25,000

Medical Insurance for Parents - Section 80D 2(B)   Maximum limit: Rs.25,000. For Sr. Citizen Rs.50,000

Interest on Housing Loan for Self occupied property (Enter Interest as -ve amount) Maximum limit: Rs.2,00,000

NPS => Employer contribution (usually 10% of basic pay)

Allowances under section 10:
HRA
Telephone
LTA
Fuel
Book
Meal Voucher

Last hope to save more tax: 😀
Donation to Trusts or NGOs :)

like

Thanks for your inputs

like

What's your YoE...??

I see there is a skillbonus of 13lakh..will it carrier over a next year as well

What is your skill and YoE?

Azure

Related Posts

Hi Fishes,

I have one query.
What's the role of Basic Salary in our CTC structure?

Is there any advantage if it's higher or vice versa.?

like

Hi All,

I have joined KPMG in June 2021 & it's been more than a year. The performance cycle here is Oct-Sept. I haven't spoken to my manager regarding hike during performance review assuming it will be given automatically post one year completion. Now I feel I should've discussed this before. Is there a possibility I can speak to my manager & get the deserved hike? Or will I have to wait till next performance cycle?(if it's not given in nov salary)

Do you believe a soldier's salary is high enough? I thought so before enlisting myself, but after five years of service, I think it should be higher, I mean, the things we get to see don't get erased from our heads even with all the money in the world, but with more I could ignore them a little bit

like

can anyone pls tell what is the average hike and average bonus given in FIL?

like

Are Vanguard ETFs (VGT, VOO etc.) considered better compared to SPDR ETFs (XLK, XLC, XLY etc)? If so, why?

like
like

Does anyone have a recommendation for a tax professional in the LA area? I have a mix of assets: real estate, stocks, start-up equity, etc., and want to find someone to help manage my taxes moving forward.

like

Is it easy to find a subleasee in LA? Planning to leave LA soon but wondering if it's hard to find one which has a good credit record. (Owner does not allow early termination) Price is pretty good compared to the current market rate and the apartment is fully occupied.

like

Question - currently working as a workers comp specialist for 20provider practice and I believe I am being under paid?? 15/hr or more like 20/hr have 20plus years of experience

like

What is the salary for technical account manager with 5 YOE

like

Friends what will be my in hand salary here?

Post Photo
like

For those of you who have recently lateraled, what was your signing bonus? Also, did the new firm match the old firm’s retention bonus? Thanks!

like

When does infosys gys get salary increment?
From April Or Jan?
What is actual procedure in infosys?

like

Are specialist programmers eligible for skill tag bonus?

like

I have offers from,
Infosys 9.4L + 1L Joining Bonus,
IBM 11L + 1L Joining Bonus,
Oracle(OFSS) 12.5 + 75k Joining Bonus,
UST 13.5 + 1L Joining Bonus and
Cognizant 14.5L + 1L Joining Bonus

I'm a Java FSD, My Exp is 3.3 years and my CCTC is 4.6L + 80k variable

All the above are fixed pay, please guide me to pick the best company in terms of knowledge, career benefits, and all. And please advise, and can I negotiate between these companies with the highest offer?

like
like

I have only lived in Williamsburg and am moving next month. Should I stay or move elsewhere? Single, no kids. Looking for less than $2,500 rent.

Hi my fellow bowlers I have a question about the signing bonuse agreement. If you hand in notice 2 weeks before the signing bonus period ends but have more than 2 weeks vacation left. Would I still need to pay back DT? Or do I need to wait until the actual period end then give notice to avoid repaying?

like

Fee-only RIA looking to buy in North Florida, Georgia, Alabama and Mississippi.

like

More Posts

Hi all I am Harish having 3.6 years experience in sales, now looking for job opportunity in Hyderabad location. My previous company was Manjunatha paints Enterprises where I have worked as Marketing manager and handled a team of 6 members!

Please can anyone refer for any job openings/opportunities in Hyderabad location.

like

Our client consistently gives us unreasonable deadlines (here is stuff at 5pm on Friday, need your comments by Monday at 3). Is there a reason the partner/manager can't push back and set expectations?

What would you do as a staff if you found financial reporting fraud at a public client (name every American would know) but the partner is shoving it under the table.

funnylike

What’s a decent rate for a 1099 audit Senior .. 5 YOE, cpa

like

Curious to get some thoughts and ideas going… year end audit must happen. It requires people. People are - more than ever - tired of it and quitting faster than new hires being onboarded. How do we change that? What would be a win win for partners through staff, and get the audits done on time? There must be a solution!

Keeping in mind that now, people aren’t interested to sacrifice WLB…

like

Please suggest, how to get job opportunities in country like Canai, Australia or UK. I didn't find much through naukri

like

How is the Corona affecting your jobs?

How to register for nxttrans for transport

like

Hey fishes, currently looking at apartments through video calls to move to london from France. Will be working in canary wharf, how are these areas (safety, connection to central london, restraunt/cafes..): Bermondsey, South Lambeth, greenwhich but close to maze hill station ? would you advice to live in these areas compared to west london ( st johns wood, swiss cottage, west hampstead..)? thnx

like

I made the switch from marketing to PR this year. I basically went from having 15 years of experience to being a newbie in a different subject matter. I miss creative development for ads/web/video, having more tactics to integrate into strategies, and the leadership opportunities I had managing junior team members. I don’t miss 50+ work weeks and measuring success from my stress level. I like my team, but I feel underutilized. Should I sit back, relax, and enjoy the ride for a few years?

like

Open Jr. CW positions in Amsterdam? Any tips?

like

Anyone in Account Services have anything fun, quirky, or just plain cool - yet still professional to spice up a LinkedIn about me?

like

My parent ended up in an emergency room and is admitted to a hospital. They need a surgery for broken leg. I requested hospital transfer but current hospital refused to transfer my parent to another hospital of our choice. They said they can discharge us to rehab or home (home is apparently against medical advice now). How can I leave this place and go to the hospital of our choice? Ask for discharge and transportation home and then from there call 911 and ask to be taken to requested hospital?🙏🏻

likehelpful

Binance confirmed XRB to be the next coin listed! Buy Buy Buy...🚀🚀🚀

like

Partner Promotions at EY
As a matter of policy, EY NEVER promotes Executive Directors (ED) to Partners. Except they just made an exception with someone they hired from KPMG. What a slap in the face!

like

Best bar or restaurant to watch the World Cup matches this weekend? And go!

like

Salary check: How much are you making? List your YOE and firm.

I have 2-hour interviews 3 times this week. My firm requires that attorneys be in the office unless they need to work from home for some (good) reason. How can I attend the interviews without drawing suspicion? Note: if I say doctors appointment I’m worried my boss will ask for documentation.

like

Additional Posts in Salary Slabs - Consulting

Fishes..any idea of one savings bank company..it's an UK based bank..
Pls advise how the career growth and wlb..

like

Hey Fishes,
Can you please help me with unlocking DMs?

like

Hi fishes,
 
Recently I got 2 offers from FedEx and Capgemini invent.
 
FedEx 24.25+ Variable
 
Capgemini 29 including variable + 2 lakh joining.
 
Which is a good move at this time of my career?
Tech Consultant 9.2 yoe

like

YOE - 2.8 Offer from Cognizant- 10LPA, Deloitte - 9.5 LPA. Which one to go for?

like

What's the salary range for a Senior Associate 2 in PwC AC Management Consulting Vertical?

like

Hi Fishes,

Does Morgan Stanley entertain the request of renegotiating the offer if one has a counter offer in hand?

Are there chances of revocation of existing offer?

like

Hi guys what will be my in-hand salary.this is my 1st switch

Post Photo
likeuplifting

What will be my in hand at 24 LPA fixed (including 5% gratuity and 12% PF)?
Can someone help me out please?

like

How much should be the python automation engineer CTC with 6YOE as per the current market standards

like

Hi Fishes, My friend has 10 years of exp as SAP IS-U Consultant. He is geting an Opportunity in Dubai with Monthly Package of 24000 Dirham. Do you think this is at par with market for Dubai location with 10years of Exp. Please share your views.

like

What is the fixed salary range for Senior Manager at Accenture Consulting - Capability Network. 10+ Yr experience, Non IIM Tier I College?

like

What will be the monthly in hand salary for the below salary breakup?

Post Photo
like

Im not sure whats going wrong. I got a call from Microsoft recruiter , she told me budget is for 14lakhs , im shocked after hearing this as i already have 8.2 YOE into data analytics. I thought big branded companies offer huge hikes

like

Hi hunters, My UAN account reflects previous 2 companies which I don't want to show in my next job. Do employers verify UAN account for background verification

like

Max Salary of Salesforce Developer with 5 years of experience?