Experience The NoBrokerHood Difference!

Set up a demo for the entire community

Thank You For Submitting The Form
Home / Finance / Taxes / How to save tax for salaried employee?
Q.

How to save tax for salaried employee?

view 113Views

2 Year

Comment

1 Answers

send
0 2022-05-23T09:59:31+00:00

As an employee, you need to pay taxes under the income tax bracket. The tax must be filed every year if you don't fall under the bracket. As an employee, if your annual salary is equal to or over five lakh you need to pay your taxes. But to help the citizens the Income Tax Department (ITR) has provided us with the facilities to claim tax exemption. I will share with you the tax saving options for salaried employee.

Use NoBroker Utility Bill Payment Service to pay your bills safely and get exciting rewards as well.

How to save tax for salaried employee?

There are many ways to claim taxes. Taxes can be claimed under many heads developed by the Income Tax Act. Read on to understand how to save tax in India for salaried.

I will share the pointers for the ways of tax saving for salaried individuals.

  1. House Rent Allowance (HRA)

  2. Leave Travel Allowance (LTA)

  3. Employee Contribution to Provident Fund (PF)

  4. Standard deduction 

  5. Professional Tax

  6. Exemption of Leave Encashment

  7. Exemption Under Section 89(1)

  8. Exemption by opting for Voluntary Retirement

  9. Pension

  10. Gratuity

  11. Donations

  12. Meal coupons

  13. Car rented by employer

  14. Exemption on Cell phone reimbursement or Internet 

  15. Medical Insurance

  16. Home Loan

  17. Education Loan

  18. Mutual Funds

  19. Deductions

These are the ways to claim tax exemption. I will explain the pointers in brief in some other answers. I will also provide some links for you to understand some of the processes as well.

income tax deductions for salaried employees

I hope you understand now the ways for tax saving options for salaried individual.

Read more:

How To Claim HRA In Income Tax Return?

What Is Section 80C Of Income Tax Act?

How To Log In Income Tax Portal?

How To Register DSC On New Income Tax Portal?

How To Save Tax Apart From 80C?

Flat 25% off on Home Painting
Top Quality Paints | Best Prices | Experienced Partners