I have a query regarding tax saving components of Salary. My new company has given me the flexibility to define my own Salary breakup/Salary components. Now I want to know what tax saving components can be included to save taxes. I am not using HRA. I am making the basic as maximum component so that my EPF contribution (12 percent of basic ) from Employer side is Tax exempted. I am taking LTA of 60000 per year. what other components can I include to save on taxes.
CAclubindia
