maximize savings on income tax
This query is : Resolved
21 June 2017
I recently joined a company and my ctc is XXX lpa and in hand guaranteed cash is XX lpa. anyone can help what is the applicable tax rate for me and how can I pay less tax?
21 June 2017
Applicable tax rate in your case which is applicable to individual i.e
upto 2.5 L @ NIL
Next 2.5 L @ 5%
Next 5L @ 20%
Remaining @ 30%
21 June 2017
You Can save you tax by claming deduction u/s 80c i.e. 5yrs FD, LIP, housing loan repayment
Or you may also claim HRA (if actually paid)
22 June 2017
how can hra save tax?
22 June 2017
If you are staying in a rented house than you can claim HRA deduction , if HRA forms part of your salary.
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