Featured Post

Best Way to invest in Stock Market || How to invest and earn from an IPO? Earn Income in just 7 Days

Image
Stock Market: One of the largest place in India and throughout the world where people invest their amount and earn good profits in short time as well as also invest for the Long Term Profits. Stock Market is the place where you can earn more the the invested amount in just a day. But stock market is the place which is full of risk. The Lack of knowledge can give you the loss which may needs to payback for the entire life also. So, if you are thinking about to invest in Stock market and need a start-up Ides, then this article is for you. Read this full article where we have mentioned the safest method of investment with minimum risk from where you can earn more than 50% of profit in just 7-10 days. In Short: Stock Market is one of the best investment platform filled with uncertainties & opportunities The are many methods from were you can invest in Stock market such as: 1. Investment in Shares of Companies (Equity Markets, Future & Options & Currency Market) 2. Investment ...
6 comments

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 taking the minimum deductions as Rs: 1,50,000

Leave Travel Concession: 50,000

Here come your Total deductions worth Rs. 14,25,000

19,00,000 (Less:) 14,25,000 = 4,75,000/-

And, as per the Income Tax Slab, a Net Taxable salary below 5 Lakhs in a year is completely Tax-Free

Congratulations, you have saved lots of Tax. Enjoy!

Comments

Post a Comment

Popular Posts

What is Digital Signature Certificate? How many types of Digital Signature Certificates are available in India? Types of Digital Signature Certificates in India

Image
As an accountant & Tax Consultant our team are well known about Digital Signature Certificates. Every Accountant, Directors of Company, Partnership Firms having GST Registration, Accountants etc. are well known about Digital Signature Certificate (in short, we call it DSC). But there are many people among us who don’t know about Digital Signature Certificates, what are the uses of DSC’s and Where we can use these. So, don’t worry, today we will introduce you about Digital Signature Certificates in detailed form. What is Digital Signature Certificate? Digital Signature Certificates are Signatures of individual person in electronic manner in the form of certain text file or in the form of token which can be use while signing online Documents or soft copies of files where you can’t sign physically. It is equally valid as physical signature. The Documents signed with Digital Signatures are also equally valid as documents shared in physical (paper) manner. What is the requirement of Dig...
Read more

Temporary Email IDs Explained: Privacy, Security & How They Work

Image
In today's hyper-connected world, our online presence is more extensive than ever. Every website, service, or forum we sign up for requires an email address, a digital identifier that grants access and potentially exposes us to unwanted communication. This is where temporary email IDs, also known as disposable email addresses, burner emails, or throwaway emails, come into play. These fleeting email addresses offer a layer of privacy and convenience in navigating the digital landscape. What are Temporary Email IDs? Temporary email IDs are essentially email addresses with a limited lifespan. Unlike traditional email accounts, they are not linked to a permanent identity and are designed for short-term use. These addresses are typically generated on-demand by online services and can be accessed for a predefined period, ranging from minutes to a few days. After this time, the address self-destructs, along with any emails received. Benefits of Temporary Email IDs: Temporary email IDs off...
Read more

What is Vanish Mode on Facebook Messenger & Instagram? How to Enable Vanish Mode on Instagram & Facebook Messenger

Image
After the Updation by Google on its Policies & Upgradations on Applications, Facebook is also updating some features on Facebook, Facebook Messenger & Whats App Facebook Started with Colorful theme in Messenger & Instagram, Emoji Like features in Chats & Chat Color Options. Facebook has already integrated all the features in both apps Then Facebook Introduced Payments features in Whats App for Indians Facebook is also working of Disappear Message Feature in Whats App in which the Selected message will disappear from Chats of Both Sender & Recipient after 7 Days. And Now: According to the sources the Facebook is planning to introduce Vanish Mode or Vanish Feature in Instagram & Facebook Messenger. Facebook has already announced about this. Vanish Mode is same as Disappear feature on Whats App (But there are a little differences). As per the source, Vanish mode in Instagram & Facebook Messenger will remove the messages or chats in Inbox for both Sender & R...
Read more