Is it possible to Pay "Zero" Tax in Indian if your annual salary is 19 Lakh ?
Deductions you can claim as per Income Tax (with the minimum allowed deductions according to the 19 LPA package: House rent allowance (Let's Say: 4,00,000 considering the Basic Pay is half of the Salary & HRA Received is half of the Basic) Interest on Home Loan: 2,00,000 Principal Value paid on Home Loan, LIC, PPF, PF, 5-Year FD: 1,50,000 NPS: 50,000 Interest paid on Educational Loan: No Limit (but we will take as 1,00,000 for here) Amount paid on Mediclaim Premium of yours, parents, and preventive health insurance: 75,000 Deduction on purchase of Electronic Vehicle: 1,50,000 Donation: 50,000 (taken as a minimum during the year) Standard Salary Deduction: 50,000 The deduction is allowed according to Salary structure such as Flexi Benefit Expenses (expenses used for Working purposes such as Purchase of uniforms, Books & periodicals, etc.). To claim these expenses, you have a Flexi benefit head available on a salary structure. Form now, assuming you have this, then we are ta...