This blog provides a step-by-step strategy for persons earning 12 lakh annually to legally pay zero income tax. It investigates significant deductions and exemptions under several parts of the Income Tax Act, such as parts 80C, 80D, HRA, and NPS, and provides practical examples to aid comprehension.

An extensive guide on India's income tax benefits for salaried individuals for the fiscal year 2024 may be found in this blog post. It includes a number of allowances, including standard deduction, professional tax, perks, medical allowance, housing rent allowance (HRA), transportation allowance, leave travel allowance (LTA), and medical allowance. The article also discusses other Section 80C, Section 80D, and Section 24 deductions that are possible, such as interest on house loans, medical insurance, and investment-linked deductions. Salaried people can maximize their tax savings and reduce their taxable income by being aware of and utilizing these deductions and allowances.

This blog post provides a detailed guide to Section 10(13A) of the Income Tax Act, which allows salaried individuals to claim exemption on House Rent Allowance (HRA) received from their employers. The post covers the eligibility criteria, calculation, and documents required to avail this tax benefit, making it a valuable resource for individuals looking to optimize their tax planning.