Info on Tax Saving
I have very few knowledge on Tax. So sharing my queries here. Kindly guide me In my Apr month salary slip I got to know about this. Annual Income - 7,67,xxx Net Tax Income - 7,17,xxx (After deduction 50k) Tot. Tax payable - 17,xxx Tax deducted this month - 1,xxx (Tagged to NEW Tax Regime) Will this Total Tax payable is for this entire financial year or it will be increases frequently after each month salary? If I increase my PF contribution of about 20k for this year will this works for saving tax? Or any otherway is there means pls guide me Thanks in advance 👍
You just need to deduct 17k somehow to fall in the 0 bracket. PF won't work in new regime, try NPS from employer.
If you can somehow use 1.2L under 80C then go for old regime (as rebate is on 5L there).
Total tax is for the entire year unless your salary changes.
