How to Save Tax on Salary Above 5 Lakhs
How to save tax? By using tax saving tips – Standard Deduction (Rs. 50,000), HRA, Section 80C (Rs. 1.5 Lakhs), 80D (Rs. 50,000), 80CCD(1B) (Rs. 50,000)..
tax deduction on salary
Deductions Allowed for Tax Payers to Save Income Tax
Important Deductions Allowed for Tax Payers include Section 80C (Rs. 1.5 Lacs), Section 80CCD(1B) (Rs. 50,000), HRA, Section 24 (Rs. 2 Lacs).
TDS Deduction on Salary Calculation | Tax Deduction on Salary
TDS on Salary can be easily calculated using below steps. 1. Calculate Gross Income 2. Get Deductions 3. Calculate Taxable Income 4. Get monthly TDS. Example