HOW TO PAY LOW INCOME TAX
Raj kumar (111 Points)
25 March 2019
My salary is above 10 lakhs how to file my return to pay low tax AY 19-20
2 Replies
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 25 March 2019
you can minimise your tax liability by ensuring following points:-
1. you have taken all exemptions like HRA, LTA, PDA etc.
2. Claim deduction u/s 80C upto 1.5 Lac and additional 50K under NPS.
3. Claim medical insurance deduction, if any.
4. Plan for 80 G Deduction.
5. House Loan Interest, If any.
these are major points, rest depends on your nature of income, how to plan to minimise tax as per law.
1. you have taken all exemptions like HRA, LTA, PDA etc.
2. Claim deduction u/s 80C upto 1.5 Lac and additional 50K under NPS.
3. Claim medical insurance deduction, if any.
4. Plan for 80 G Deduction.
5. House Loan Interest, If any.
these are major points, rest depends on your nature of income, how to plan to minimise tax as per law.
Recent Topics
- Cash ledger refund
- Interest free loans from directors in private limi
- Section 194T
- Paying GST on Residential House Construction
- Gst credit ledger input
- Income Tax Filing after Portal Deadline
- LTCG u/s 54 -Time Period Related
- Clarification -GST registration
- TDS on commercial bus insurance payment
- Do we need Environmental Clearance certificate for
Related Threads
CAclubindia
