Reduce tax

This query is : Resolved

kailash garg (Querist)
Follow

02 September 2016 Dear sir,

i M kailash garg
my salary is 49000/-
basic + specail allowance + Ex Alowance;

I like toreduce my tax Amount and my personnel dept deducting around 3000/- per month as tax

so please give the detail to get benefit under some heads:
HRA
Medical exp/Transport
Mobile exp/ newspaper
LTA
87a Rebate 5000

Also provide me the Tax calculation of my salary of 49000

kailash garg
9845880630

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
Follow

05 September 2016 Your income-tax as per your salary Rs.49000/-p.m.comes to Rs.42600/-.So,you ask your personnel dept.to give income-tax calculation sheet.After getting details of income-tax calculations from your co.,further planning to reduce tax can be done.

kailash garg

kailash garg (Querist)
Follow

06 September 2016 dear sir

calculation sheet:

basic 49000*12= Rs: 588000
LTA: 20000
Award:32000
Hra: 44000
less: 2400 (Professional tax)
Gross tax salary: 681600/-
Mini salary 250000
deductio 80: 150000

taxable salary; Rs.281600

(10% *250000) +(31600*20%) =RS.31320/-

Now please tell me some option to deduce the tax amount

k garg

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
Follow

07 September 2016 You can have still scope by investing Rs.50000/- in New Pension Scheme & reduce your tax liability to Rs.Nil.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

svgovindaraju

Sasidhar B

CA Garima Bhatia

eddanapudi murali

Rakesh Maner

Subscribe Now

Reduce tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA