💸💵अपनी Income पर Tax कैसे बचाये ✔️ | How to Save Income Tax | Save tax | Tax planning | Tax Saving
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Tax Savings Sections :
(1) What is Standard Deduction? Standard Deduction under Income Tax Act refers to a deduction allowed under the head salaries. The previous Union FM Jaitley introduced Standard Deduction of Rs. 40,000 in Budget 2018 that was increased to Rs 50,000 in 2019 till is it Rs. 50,000/- in 2024 budget and available in old and new tax regime both.
(2) Section : 24 - Maximum interest deduction under Section 24(b) is capped to Rs 2 lakh (including current year interest + pre-construction interest). However, if your home loan is eligible for deduction under Section 80EEA, you can claim an additional deduction of Rs 1.5 lakh.
(3) What is Section 80C Limit : Section 80C permits certain investments and expenses to be tax-exempted. By well-planning the 80C investments that are spread diversely across various options like NSC, ULIP, PPF, etc., an individual can claim deductions up to Rs 1,50,000. By taking tax benefits under 80C, one can avail of a reduction in tax burden.
(4) Section 80 CCD(1) : This section is gives a tax deduction on NPS contributions up to 10% of their salary (basic salary + DA) made by employees. However, the total amount of deduction of 80 C and 80 CCD(1) cannot exceed Rs.1.50 lakhs in the previous year.
(5) Section 80 CCD (1B) : This section gives an additional deduction of Rs.50,000 on their NPS contributions. Section 80 CCD(2) provides that employees can claim a deduction on the NPS contribution of up to 10% of salary (14% of salary for Central Government) made by the employer.
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How Can a Salaried Person Save Tax?
Salary Income Tax Deduction
Tax Deduction 2023-24
How Can Salaried Person Save Tax?
Salary Income Tax Deduction
Tax Deduction 2023-24
Deduction from Gross Total Income
Income Tax Deduction for Salaried Employees Person
Tax saving for salaried person
tax planning for salary income
salaried person tax saving
salaried person income tax saving
salary deduction income tax
what is deduction in income tax
Tax Deductions 80c to 80u
tax saving tips
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deduction in income tax
How to Save Tax for salaried persons?
Income Tax Deduction & Exemption
Old Tax Regime Vs New Tax Regime
Exemptions for salaried persons
HRA Tax Exemption
Leave travel Allowance Exemptions
Reimbursements
Deductions for salaried persons
80C Deduction
80CCD Deduction
80D Health Insurance
80EE Interest on home loan exemptions
Tax Calculation Example