Bifalgorithm post

Hi Namaskar! Pay 0 tax on 15 lakh salary, explained in 60 seconds. The aim is to get the net salary below 5 lakh. How? CTC is 15 lakh, now we will use two exemptions. First, HRA of 3 lakh and second LTC of 50,000. Next, we will use deductions to reduce net taxable income. First, Standard deduction, 50,000 available for all. Second, use all of 1.5 lakh under popular section 80C. Third, Interest paid on home loan up to 2 lakh is tax deductible. Use it. Fourth, invest 50,000 in NPS and an additional 10% of your basic salary in NPS and pay zero tax on it. Fifth, there is no tax on health insurance under section 80D of up to 75,000 for yourself and parents. And last, interest on education loan under section 80D is also tax deductible. So your net income now becomes 4,95,000 and your tax payable is zero on a 15 lakh CTC. Check out the caption for detail and share this as this can save a lot of tax.

Hi Namaskar! Pay 0 tax on 15 lakh salary, explained in 60 seconds. The aim is to get the net salary below 5 lakh. How? CTC is 15 lakh, now we will use two exem…