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Income tax saving: Hello friends, today we are going to tell you this in this article, even if your annual salary is Rs 9 lakh, you will not have to pay even Rs 1 tax, know here how.
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If your salary is Rs 9 lakh then it would be better to choose the old tax regime.
- In this, you can get tax exemption of Rs 1.5 lakh under 80C on investing in small saving schemes like PPF, EPF and NSC.
- Under 80CCD(1B), a rebate of Rs 50,000 will be available on investing in NPS.
- If you have taken a home loan, then you can claim tax exemption of Rs 2 lakh under Section 24B.
- In this way you have made a total tax saving of Rs 4,00,000 (1,50,000+50,000+2,00,000).
- Under the old tax regime, you no longer have to pay any tax on income of Rs 5,00,000.
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