मैगज़्टर गोल्ड के साथ असीमित हो जाओ
10,000 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
Optimize deductions, maximize tax saving
Mint Kolkata
|January 13, 2025
How can I optimize tax savings on my ₹10 lakh package with current deductions, including home loan repayments, interest, food coupon, mediclaim premiums, and provident fund?
Should I park ₹50,000 to NPS, add ₹50,000 to home loan interest for a ₹2 lakh exemption, claim exemptions for parents' life insurance premiums, or explore other deductions?
-Name withheld on request
With a ₹10 lakh CTC (cost to company) and current deductions of ₹3,97,400, comprising ₹26,400 for food coupons, ₹21,000 for parents' mediclaim premiums, ₹1.5 lakh for Section 80C, ₹1.5 lakh under home loan interest and standard deductions of ₹50,000, the old tax regime is more beneficial for you. This structure allows you to maximize your deductions and minimize your taxable income effectively.
To further reduce your taxable income, you can contribute an additional ₹50,000 to NPS (Section 80CCD(1B)). This contribution provides a valuable opportunity to lower your taxes and enhance your retirement savings.
यह कहानी Mint Kolkata के January 13, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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