How to restructure salary, investments to cut income tax outgo by Rs 64,557
The Economic Times - 2024-04-15T01:00:00.000Z

Hyderabad-based engineer Rutuj Patil earns well, but more than a fifth of his income goes in tax even though he claims most of the deductions available to him. TaxSpanner estimates that Patil can reduce his tax by almost Rs.65,000 if his company rejigs his pay structure to include some tax-free emoluments and he increases the contribution to the NPS to 10% of his basic salary.Patil should start with the NPS. Under Section 80CCD(2), up to 10% of the basic salary put in the NPS on behalf of the...

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In related news

Kemp signs measure to speed up Georgia's income tax cut

Does your income make the cut for affordable housing?

Google restructure leads to job cuts