Bifalgorithm post

You can now pay 0 tax on a 14.65 lakh salary and the best part, it is valid for the new tax regime too. Here's the secret. First, claim your standard deduction of 75,000 and boom, your taxable income drops to 13.9 lakhs. Next up, now under the new tax regime, you can claim two key deductions. First is your employer's EPF contribution. It can be up to 12% of your basic salary plus DA. So that's 87,900 of your taxable income. Then comes your employer's NPS contribution, which can be up to 14% of your basic salary plus DA. That's another 1.025 lakhs saved this way. Your taxable income becomes 11,99,550 just under the magic 12 lakh mark under the new regime income below 12 lakhs gets a 60,000 rebate. So this way you pay 0 income tax on a 14.65 lakh salary.

You can now pay 0 tax on a 14.65 lakh salary and the best part, it is valid for the new tax regime too. Here's the secret. First, claim your standard deduction…