Help on TAX Saving
I have very few knowledge on Tax. So sharing my queries here. Kindly guide me
In my Aug month salary slip I got to know about this.
Annual Income - 7,92,xxx (Without std. deduction) Tot. Tax payable - 30,xxx Tax deducted till date - 13,xxx (Tagged to NEW TAX REGIME as of now)
If I increase my PF contribution for this year will this works for saving tax (New Regime)?
Or any otherway is there to get back by amt means pls guide me in any type of Tax (old/new)
Thanks in advance 👍
zero hoga bhai tera to tax
Old tax regime should reduce your tax liability (maybe to 0 also)
Claim Standard deduction, 80C , NPS additional 50k deduction, HRA, health insurance premium claim
Pf contribution is part of 80c. So there is a limit of 1.5lakh. The tDS already done can only be recieved back only when you file your returns next year. .
If you wish to find out about other deductions you can have... Go to your tax declaration site on your company portal and select the old regime. Am not sure if you can change now, but you will get an idea as the number and amount of deduction available for a salaried employee. You can plan your investment accordingly. When you file your returns on july25, file it under old scheme and get your refund