Dear Experts,
I am having Salary Income Rs.8,00,000/- for FY 2019-20. Please suggest for savings.
Regards,
Surendra
CMA Abhay Kumar Yadav
(Consultant)
(132 Points)
Replied 28 August 2019
take deduction based on your investments
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 28 August 2019
1. I am assuming the salary that you have mentioned is gross salary (after standard deductions and other sec 10 exemptions).
2. Now deductions under Chapter VI - A is available to be reduced from gross salary to arrive at net salary. However, investments should have been made before 31st March 2019 in order to claim such deductions. For further reference please refer official Income tax site for know about more deductions.
Please correct me if the above solution has an alternative view.
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