Income tax : VPF, NPS, PPF, Interest on Home Loan

Hello,

VPF : 2.5L

 NPS : 0.5L(80CCD)

 PPF : 1.5L (80C)

 Interest on Home Loan :2 L(24B)

Total : 6 Lakh . So total of 6Lakh can be tax exempted from the salary(if its e.g. 12Lakh)

Thanks!

 

Replies (2)
Quick Summary
This discussion explores how to reduce taxable income by combining various tax-saving instruments. It highlights potential deductions from VPF, NPS, PPF, and home loan interest, totalling up to ₹6.5 Lakhs. The thread also touches upon the importance of choosing between the old and new income tax regimes to maximise these benefits.

Correction : its 6.5Lakh. So total of 6.5Lakh can be tax exempted from salary?. Thanks!

Originally posted by : Abhishek
Correction : its 6.5Lakh. So total of 6.5Lakh can be tax exempted from salary?. Thanks!

Depends on whether one has to follow New income tax regime without deductions or Old Income tax regime where deductions are allowed.

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