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How to save max tax having 30 lakh ctc
One of my friend, has got an offer of Rs. 30 lakhs annually along with that fixed amount of 20k as Car fuel and driver. He wants to know how much would he have to pay tax?
He is open to all sort of investments in Mutual funds, and other such types.. basically, he does not want to give away his hard earned money to government. So with this new tax slab of 2.5 lakhs, increase in 80 (C) and house loan policy change, can somoene help to show where should one invest such that he/she would have to pay minimal tax to government?
Also the company is ready for flexible salary component structure.. So what salary structure should be asked and is it possible to ask for cheque in different names so that the tax liability is less
Replies (1)
the best way to save tax is to declare yourself as a contractor rather than an employee, and then you can file your returns as a self employed professonal. then you can show 40 to 50% of your income as business expense and the rest you can show your income and save under 80C and pay tax on the balance.
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