{ "media_type": "text", "post_content": "I want to know which tax slab can be appropriate for a 10lpa and what are the way I can manage to reduce my tax computation.\nI have been to this tax slab for the first time don't have. any knowledge.\ncan one of you assist what can be done or what are the steps for saving the tax or us it possible to have 0 tax.\nFYI,\n2.2lck is hra", "post_id": "60d41b6a67d4270028d6c5ca", "reply_count": 8, "vote_count": 4, "bowl_id": "603bffa1824b0d002258e515", "bowl_name": "Deloitte USI", "feed_type": "bowl" }

I want to know which tax slab can be appropriate for a 10lpa and what are the way I can manage to reduce my tax computation. I have been to this tax slab for the first time don't have. any knowledge. can one of you assist what can be done or what are the steps for saving the tax or us it possible to have 0 tax. FYI, 2.2lck is hra

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Select -old regime 1. 50k standard deduction u will get irrespective. 2. 1.5 lacs deduction u can get , u need to invest it in 3yrs elss, ppf,5yrs fd etc(note that ur pf also comes in this) 3. HRA u can claim upto one lac without landlords PAN. 4. If u want additional 50k u can invest in NPS. 5. If u have any loans u can avail tax benefit on that too( someone else can throw more light in this) 5. You can show some expenditures too like childs education etc(someone else can throw more light in this) So to summarize 50k+ 1.5L + 1L + .5k u can avail these easily which will deduct 3.5L from ur fixed pay. It boils down ur effective salary to 6.5L on which u will have to pay taxes which will come around 35k/annual

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@D1, thats correct but they will fall under 80c only. 1.5L deduction u can get as mentioned you can use it however u want. PF will already be there rest u can take a call whether to invest in vpf,ppf,elss,5yr FD etc.

Choose old regime and then use your HRA declaration upto 100000 and the use 80c for saving extra 150000 (ppf or any other tax saving investment).This is a common and normal approach of saving your money and best if you are under 12lpa

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thanks

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