become a farmer, both Sachin Tendulkar and Amitabh Bachchan file tax as farmers and a huge part of their income is tax exempt.
Or an exporter - getting FX in India
Actually there is one more way... Start a company, and do everything (all income, expenses) thru the company...
@gabru They file through agriculture, but they are clearly farming money form other professions. How is it legal and how can we do it?
Be consultant/on contract. Anything else may invite scrutiny :)
I am salaried & have opted for new tax regime. I have zero liability (no EMIs, etc). Closed both my home loan & car loan. I live in my own house.
My yearly tax comes out to be around 12 Lakhs. I want to know if there is a scope to save ...
+1 for everything above except staying at own home.
Are there any legit ways to save tax once you cross that salary where saving from 80c, 80d is not of much use? I know home loan is one option but are there better ways?