Please suggest me how to save and pay the tax
Querist : Anonymous
I have listed the salary and my expenses ,please advise me how to minimize the TAX Amount
Income -
Salary - 600000
Expenses
House rent - 8500 per month
I don't know anything about the tax, I felt really happy that I have seen lot of experts in this sites.
Please advice , How can I plan for this
Raja
Querist : Anonymous
H.R.A received 118,128
Conveyance allowances 9,600
allowances 78,996
Professional Tax 2,400
PF 9,360
Total 6L per Annum
Hope this details are enough
raja
HRA is exempted subject to the rent payment
Conveyance allowance is fully taxable
Other allowances - if the nature is official then exempted otherwise taxable
PF - Your contribution is covered under 80C and employer contribution exempted
you can save up to Rs. 1 lakh under 8OC in various options like. PPF, NSC,LIC Premium, Housing principal, Children tuition fees etc.
Under 80D you can save up to Rs.15000 for Mediclaim premium and Rs.5000 for preventive health checkup
Querist : Anonymous
Querist : Anonymous
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