After the recent new budget, I was in a dilemma about how to save tax on 15 lakhs salary. I called my sister-in-law and asked her about it. She told me that there are various ways following which tax can be saved on that high salary. Following that, she told me about a few tips, which I have added below.
How to Save Tax on Salary Income of 15 Lakhs?
Here are the tips that she provided me about saving tax.
She told me that choosing between the old and new tax regimes is very important. According to her, the old regime offers deductions that are absent in the new one, but the latter boasts lower tax rates.
She also told me that there are components in the salary structure that are exempted from taxation, such as HRA, LTA, etc.
Next, she told me that investing in provident funds can also be a strategic move. The interest earned on these funds is tax-free.
And that’s what she told me about how to save tax for salary 15 lakhs. I hope this helps.
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How to Save Tax on 15 Lakhs Salary?
Rupesh
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39 days
2024-07-31T16:11:09+00:00 2024-07-31T16:11:09+00:00Comment
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