If an employee is receiving a salary of Rs. 18,000/- or Rs. 40,000/-, how can they save on tax? As medical reimbursement is included in the payslip, requiring submission of bills every month, we have removed the medical component. Now, how can we save on tax? Please suggest.
From India, Bangalore
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6From India, Bangalore
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I am getting salary Rs.74000/pm without any splitup like Basic+DA+HRA. To get more tax benifit, how my employer has to split the salary?
From India, Tiruchchirappalli
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From India, Tiruchchirappalli
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Hi Hemanth,
You can save up to Rs. 1 lakh in ELSS/ULIP and another Rs. 15k by taking medical insurance for yourself, your family (including parents). For wise deployment of these savings and accurate advice, please contact us at
.
From India, Hyderabad
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You can save up to Rs. 1 lakh in ELSS/ULIP and another Rs. 15k by taking medical insurance for yourself, your family (including parents). For wise deployment of these savings and accurate advice, please contact us at
From India, Hyderabad
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convence allowance,medical allowance,HRA,LUNCH ALLOWANCE,EDUACATION ALLOWANCE,SHIFT ALLOWANCE. TO GET MORE TAX BENIFITS YOU HAVE TO PUT ALL DOCUMENTS. SARVANG SHAH Manager - HR & ADMIN +919723127797
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Hi All,
Never knew I was touching troubled waters. Please follow this link https://www.citehr.com/101237-how-save-income-tax.html for an attachment on how to save tax on salary. There are various tools, and you will be surprised how some fine tunings can help us save some more money. Also, note that any further changes and inputs will be posted at the linked post.
Regards, AJ
From India, Thana
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Never knew I was touching troubled waters. Please follow this link https://www.citehr.com/101237-how-save-income-tax.html for an attachment on how to save tax on salary. There are various tools, and you will be surprised how some fine tunings can help us save some more money. Also, note that any further changes and inputs will be posted at the linked post.
Regards, AJ
From India, Thana
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Hi all,
I still don't understand the concept of sending the document by email. Please forgive me since the list is so huge. What I can do is arrange to upload the document here. My apologies to the site owners for uploading this file twice.
Also, please note that you can click on the file and download the same, or you can use the right-click button and click on "Save target file."
Regards,
AJ
From India, Thana
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I still don't understand the concept of sending the document by email. Please forgive me since the list is so huge. What I can do is arrange to upload the document here. My apologies to the site owners for uploading this file twice.
Also, please note that you can click on the file and download the same, or you can use the right-click button and click on "Save target file."
Regards,
AJ
From India, Thana
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Hi Nisha, Please check the previous link posted by me, it has an attached doument regarding the same. It delves into saving of taxes. Regards, AJ
From India, Thana
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From India, Thana
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Dear Sir,
I have a query about the interest on Housing Loan.
My query is: If an employee is paying interest to the bank of more than 3 Lac on one house and the property is in the name of both the employee and his wife, can the employee take an exemption of interest on Housing Loan of 1.5 Lac and can his wife also claim 1.5 Lac as well, as per the new amendment.
From Germany
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I have a query about the interest on Housing Loan.
My query is: If an employee is paying interest to the bank of more than 3 Lac on one house and the property is in the name of both the employee and his wife, can the employee take an exemption of interest on Housing Loan of 1.5 Lac and can his wife also claim 1.5 Lac as well, as per the new amendment.
From Germany
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Hi Pawan,
First of all, I would like to introduce myself as Poonam. I am working as a recruiter in a CMMI Level 5 software firm in Delhi. I request you to please post the format on this site, or else please forward it to me at
.
Thanks in anticipation!
Poonam
From India, Delhi
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First of all, I would like to introduce myself as Poonam. I am working as a recruiter in a CMMI Level 5 software firm in Delhi. I request you to please post the format on this site, or else please forward it to me at
Thanks in anticipation!
Poonam
From India, Delhi
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The following heads are allowed as deductions, and if bills are produced, the amounts will be tax-free:
Food allowance: $2600 (bill not required if given through food coupons)
Medical: $1250
Travelling: $800 (no voucher required)
Conveyance (Petrol)
Books and Periodicals
Internet usage
HRA up to 40% of basic
From India, Hyderabad
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Food allowance: $2600 (bill not required if given through food coupons)
Medical: $1250
Travelling: $800 (no voucher required)
Conveyance (Petrol)
Books and Periodicals
Internet usage
HRA up to 40% of basic
From India, Hyderabad
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Hi, Reimbursement like HRA Medical Phone Conveyance can be used to save the tax. These are some of the common heads under which salary can be distributed. Regards, TMi
From India, New Delhi
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From India, New Delhi
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Hi, Medical bills need not be submitted every month.. the limit is 15000 per annum. We can have bill submission only twice - once in October and once in March.
From India, Hyderabad
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From India, Hyderabad
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Dear Mr. Pawan Krishna Reddy,
I am an army officer who has taken release from service in Sep 08. I have taken up a job in Mumbai. Can you please suggest to me how I can best save income tax on a salary of 60,000 per month, i.e. 720,000 per annum? There is no breakup of salary yet, but I've asked the proprietor to do so. Can you kindly help? My email id is santi10481@rediffmail.com.
Thank you.
From India, Mumbai
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I am an army officer who has taken release from service in Sep 08. I have taken up a job in Mumbai. Can you please suggest to me how I can best save income tax on a salary of 60,000 per month, i.e. 720,000 per annum? There is no breakup of salary yet, but I've asked the proprietor to do so. Can you kindly help? My email id is santi10481@rediffmail.com.
Thank you.
From India, Mumbai
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I feel sharing details on this site will help many of us benefit. Why does one have to mail to personal IDs? Please share on the site. That is why we are here for... learning and sharing. Aprita
From India, Hyderabad
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From India, Hyderabad
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Dear Mr. Reddy,
Please mail the same on lavkush.somani@gmail.com.
Regards,
CA. Lavkush Somani
S. R. Somani & Co.
Chartered Accountants
Dear Sir,
My name is Keerthi, and I am working in the hotel industry. Please guide me on how to save tax and for my life savings as well. Kindly advise on this matter.
My basic is - 14175.00 + HRA - 4252.00 + SPWA - 4252.00 + Conv - 946.00. Deductions are PF - 1701.00 + IT - 525.00 per month. Please inform me on how I can save my money.
S. Keerthi
Executive Housekeeper
From India, Madras
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Please mail the same on lavkush.somani@gmail.com.
Regards,
CA. Lavkush Somani
S. R. Somani & Co.
Chartered Accountants
Dear Sir,
My name is Keerthi, and I am working in the hotel industry. Please guide me on how to save tax and for my life savings as well. Kindly advise on this matter.
My basic is - 14175.00 + HRA - 4252.00 + SPWA - 4252.00 + Conv - 946.00. Deductions are PF - 1701.00 + IT - 525.00 per month. Please inform me on how I can save my money.
S. Keerthi
Executive Housekeeper
From India, Madras
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If you are working for any Government of India company, the dream of saving tax may seem unattainable. However, if you are employed by a private firm, a beneficial strategy could be to establish a small business. By declaring in your tax returns that you have made significant investments in this venture and subsequently incurred losses or faced bankruptcy, you may be able to reduce your tax liability.
From India, Ahmadabad
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From India, Ahmadabad
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Hi folks: Any one got the format; if so please post it in the site, it will be useful to many members.
From India, Madras
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From India, Madras
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Hi all,
Anyone interested in saving on taxes and making good investments, kindly contact me on my mobile at 09720393834 or via email at skgiridhar@gmail.com.
SK Giridhar
Organizational Expert, Motivational Speaker & Trainer
Insurance & Investment Advisor (IIA)
From India, Secunderabad
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Anyone interested in saving on taxes and making good investments, kindly contact me on my mobile at 09720393834 or via email at skgiridhar@gmail.com.
SK Giridhar
Organizational Expert, Motivational Speaker & Trainer
Insurance & Investment Advisor (IIA)
From India, Secunderabad
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Dear Pawan,
The topic/material is hot and eye-catching as everyone understands the format will be able to evade tax. To be very frank, I would like to comment on the format of tax-saving salary breakup only if the same is available to see. To the best of our knowledge, a thorough understanding of the tax provision is the only way to save/evade tax. Keep in mind that TAX EROSION IS A CRIME BUT TAX EVASION IS NOT.
Regards,
Team Member
HRD Professionals
From India, Ghaziabad
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The topic/material is hot and eye-catching as everyone understands the format will be able to evade tax. To be very frank, I would like to comment on the format of tax-saving salary breakup only if the same is available to see. To the best of our knowledge, a thorough understanding of the tax provision is the only way to save/evade tax. Keep in mind that TAX EROSION IS A CRIME BUT TAX EVASION IS NOT.
Regards,
Team Member
HRD Professionals
From India, Ghaziabad
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Hi,
Income Tax calculation on salary is not very easy; it depends upon the salary structure and individual's investments. If anybody wants an income tax calculation, please email all details to my personal email address: subodhaa@yahoo.com.
Thanks!
From India, Pune
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Income Tax calculation on salary is not very easy; it depends upon the salary structure and individual's investments. If anybody wants an income tax calculation, please email all details to my personal email address: subodhaa@yahoo.com.
Thanks!
From India, Pune
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Dear Pawan,
Everyone needs this tax-saving planner, and I am also one of them. I would like to request you to add my name to that list and provide me with the required one ASAP.
Thanks in advance.
Sreedhar
My email id: sreedharsetty31@gmail.com
From India, Hyderabad
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Everyone needs this tax-saving planner, and I am also one of them. I would like to request you to add my name to that list and provide me with the required one ASAP.
Thanks in advance.
Sreedhar
My email id: sreedharsetty31@gmail.com
From India, Hyderabad
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Dear All,
I want to draft a letter instructing all staff members regarding their income tax deduction from salary and any provisions made by them to save tax. Is there any specific format for this? Please help me. It's urgent.
From India, Gurgaon
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I want to draft a letter instructing all staff members regarding their income tax deduction from salary and any provisions made by them to save tax. Is there any specific format for this? Please help me. It's urgent.
From India, Gurgaon
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very simple..buy tax saving bonds, invest in ULIPS, NSC, Family Medical Insurances, and so on...
From India, Gurgaon
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From India, Gurgaon
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Hi, Its not only investing in MFs, Insurance. One has to balance the investment with insurance for risk covers. For more deatils and detailed discussions reach me at 9811275430 Regards, TMi
From India, New Delhi
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From India, New Delhi
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Dear Pawan, it will be tiresome job to mail the format on each & every member’s mail- id, instead of that u can post the format here, so , that everyone can take the benefit of the same.
From India, Delhi
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From India, Delhi
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Hi friends,
Greetings!
I am wondering why it has to be sent through personal emails. Why can't it be on Cite HR, which would actually be useful for many people as a reference and could be meaningful? Correct me if I am wrong or clarify for us (Cite HR community) the reasons for such action.
Looking forward to hearing your views on it.
From India, Bangalore
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Greetings!
I am wondering why it has to be sent through personal emails. Why can't it be on Cite HR, which would actually be useful for many people as a reference and could be meaningful? Correct me if I am wrong or clarify for us (Cite HR community) the reasons for such action.
Looking forward to hearing your views on it.
From India, Bangalore
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
SALARY CALCULATOR & INCOME TAX.zip
Sathish.ctc and income tax planning.xls