02 December 2015
Hope you intended to 'plan' your tax and not 'avoid' tax....
Your employer may structure / break-up the CTC (Gross salary cost to the company) into various components such as basic salary, HRA, PF Contribution by the company, Transport Allowance, LTC, Annual Bonus, Children Ed. Allowance, Hostel allowance, Medical Reimbursement, etc. Depending on the location / nature of industry may further break-up the salary.
Apart from this, Investments u/s 80C, Medical Insurance u/s 80D, housing loan repayment u/s 80C or housing loan interest u/s 24 are available.
CAclubindia
