Regarding Saving of Income tax of FY 2024-25

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This discussion seeks advice on saving income tax for FY 2024-25, particularly for an individual with a gross salary of approximately £800,000. The main concern is that income exceeding £775,000 incurs tax, and the user wants to explore eligible deductions and planning strategies to minimise this. They aim to file their Income Tax Return (ITR) in July with all eligible claims to secure a full refund, noting that TDS has already been deducted by their employer.

Jaswinder singh

Jaswinder singh (Querist)

04 March 2025 Respected Colleagues,
A person have a gross salary approx 8,00,000/- in FY 2024-25, now i want to know what are the eligible deductions and planning to save from income tax because upto 7.75 lakhs exempt but excess 25000/- income makes a problem , TDS already been deducted by the employer, but in july we want to file ITR with eligible claims, so we will get full refund......... please share your valuable advice for the same?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

07 March 2025 Income not Taxable in New Tax Regime
Transport allowance if provided to specially-abled persons.
A conveyance allowance was received as compensation for the expenditure incurred as a part of the employment.
Allowance is received to meet the expenses of tour, transfer, or travel.
Daily allowance received in order to meet the ordinary expenses due to his absence from the place of duty.
Perquisites received for official purposes.

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Jaswinder singh

Jaswinder singh (Querist)

07 March 2025 Thanku you sir...................

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Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

07 March 2025 You are welcome.

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