WebDec 26, 2024 · 1) Tax saving with NPS under Section 80CCD (1B): Taxpayers can save additional tax by investing up to ₹ 50,000 in NPS. This is over and above the benefit, they can claim on contributions under Section 80c. They also have the option of utilizing NPS for the ₹ 1.5 lakh limit of Section 80c. WebJun 6, 2008 · Yes. Of course this will be also a part of CTC. As explained already, CTC means cost to company i.e what an employee is costing to the Company which includes the Base Salary &Other allowances agreed upon PLUS Statutory benefits like PF, ESI, Bonus, Gratuity, leave encashment etc and other benefits like, medical premium paid by the …
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WebJun 9, 2024 · 30%. 25%. 15,00,000 & above. 30%. 30%. As you can see under the new regime, income between Rs. 5 lakh and Rs. 7.5 lakh would be taxed at 10 percent, while income between Rs. 7.5 lakh to Rs. 10 lakh would be taxed at 15 percent. There is 20 percent flat on the entire slab for the existing regime. WebNet Tax liability. 121,680. 195,500. The best way to save tax for a salary above 15 lakhs is to opt for the old tax regime and claim all the available deductions and exemptions on tax-saving investments. Alternatively, you can follow the new tax regime to … getting around in lucerne
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WebDec 22, 2009 · The dos and don’ts of Salary Structuring. Eight ways to structure your salary and get tax advantages. The days of gaining significant tax advantages from salary structuring with subsistence allowances,and the like, are gone—and only certain items can be legally taken as components of a total salary package. SARS has tightened the law so ... WebOct 25, 2024 · As mentioned above, the value of the CTC falls from $2,000 to $1,000 in 2026. The House Ways and Means reconciliation bill would extend the 2024 CTC parameters through 2025 while also indexing the credit value and initial phase-out thresholds to inflation and increasing the second phase-out threshold to $300,000. WebJul 18, 2024 · 1. Additional deduction is after completion of 10%/20% limit as provided u/sub section of 80CCD. 2. Addition deduction is over & above the ceiling limit of Rs. 1,50,000/- as defined u/s 80CCE. It I interpret as per point no. (1), to get additional deduction of Rs.50,000/-, I have to invest in NPS more than 10% of my basic salary wherever as per ... getting around jersey channel islands