Income Tax Savings: If your annual salary is over Rs 10 lakh, you will have to pay the government a large part of your earnings in the form of tax. However, if you think that you have no way to save tax, you are wrong. Even if your salary is Rs 10.5 lakh per annum, you will not have to pay a single rupee as tax. Let us tell you here easy ways to save tax. For this, you have to keep the savings and expenses in such a way that you can take full advantage of the tax exemption available on it. Suppose your salary is Rs 10,50,000 per annum, and your age is less than 60 years, that means you will come under the 30% slab. First you deduct Rs.500000 as the standard deduction 10,50,0000-50,000 = Rs 10,00,000 After this, you can save Rs 1.5 lakh under 80C. In this, you can take advantage of income tax exemption on investment in EPF, PPF, ELSS, NSC and up to Rs 1.5 lakh annually in the form of tuition fees for two children. 10,000,000- 1,50,000 = Rs.8,50,000 If you invest up to Rs 50...
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