Tax saving idea

This query is : Resolved

Sandip Kumar Das (Querist)
Follow

06 December 2024 Dear Sir/mam
Kindly suggest me how to save tax on below details
Salary-835000 + bank int. 75000 =910000
Deduction- s.d.-50000
Hra- 55000
PT-1800
80c-150000
80d-25000
Nps-50000
Total deduction = 331800
Net income = 910000-331800 =578200

Kindly suggest me
Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

06 December 2024 SD limit has increased to Rs. 75,000/-
Try to add 80D for more deduction, to bring the total taxable income below Rs. 5 lakhs.

Sandip Kumar Das

Sandip Kumar Das (Querist)
Follow

07 December 2024 But Sir SD limit increased in new format, i m using old format
80D limit also 25000 which i already added so how can increase the same

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

07 December 2024 Yes, under old regime SD remains same as 50K.
An individual or HUF can claim a deduction under Section 80D for the payments mentioned below:

Health insurance premiums paid in any mode other than cash:
Up to ₹25,000 paid for self, spouse, dependent children or parents
Up to ₹50,000 if family or your parents are senior citizens (60 years and above)

Preventive health checkups (Cash payment allowed):
Up to ₹5,000 for self, spouse, dependent children or parents

Medical expenses
Senior citizens (resident aged 60 years or above) who do not have any health insurance can claim a deduction up to Rs 50,000 on the medical expenses incurred.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok