Web15 feb. 2024 · Given below are the various tax-saving options for salaried individuals under the old tax regime to save income tax for the current FY 2024-23. Standard deduction: A salaried individual is eligible for standard deduction of Rs 50,000 from salary income. No documentation is required from an individual side to claim this deduction. Web12 apr. 2024 · An individual opting for the new tax regime for FY 2024-24 will pay zero tax if the taxable income does not exceed Rs 7 lakh in a financial year. Further, an individual having taxable income up to Rs 7.5 lakh can claim the benefit of standard deduction of …
Earning Rs 9.5 Lakh Per Annum? Here
Web1 mrt. 2024 · As per the latest tax regime, your deductions can go up to 3 lakhs per year. If you plan your investments carefully, you can save a lot of taxes. TDSTDS or Tax Deducted at Source means the tax is deducted directly from your salary. For maintaining a hassle-free tax pattern, most employers use TDS. Web10 apr. 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a deduction of Rs 1.5 lakh ... graham clarke porcelain
How to Save Tax for Salary Above 12 Lakhs?
Web13 apr. 2024 · Check out here how to save tax for salary above 12 lakhs. Products. ENTERPRISE. GST. MaxITC. Invoice Discounting. E-Invoicing & E-Way Bill. TDS. See all ... Take a look at this article if you are looking for tips on how to save tax for a salary above Rs 12 lakh. How to Save Tax if You Have an Annual Salary of Above Rs 12 Lakh? Web12 apr. 2024 · Tax Saving Fixed Deposits ( FD ): This FD scheme is for a tenure of 5 years and provides tax deduction of up to Rs.1.5 lakh. The rate of interest ranges between 7.00% to 8.00%, which is taxable. National Saving Certificate ( NSC ): This scheme is for a tenure of 5 years and offers a 6.80% rate of interest. Web15 dec. 2024 · If you want to know how to save tax on 10 lakh salary, you should first understand your Salary Structure to be able to save more. There are various grants and … china flight ban