Hi, I came across your question, and I believe I can help you with your query. I have recently submitted my ITR and have saved quite a lot of money. If you are trying to learn how to save tax on 16 lakhs salary in India, then you can use these tips.
How to Save Tax for Salary 16 Lakhs?
Here are a few things that you can do to save tax on Rs. 16 Lakhs salary.
Invest in Section 80C: You can claim up to Rs. 1.5 lakhs by investing in PPF, ELSS, or paying for insurance premiums.
Health Insurance (Section 80D): You can also get health insurance for yourself and your family to claim deductions up to Rs. 75,000.
NPS (National Pension System): Try investing in NPS for an extra Rs. 50,000 deduction under Section 80CCD(1B).
Home Loan Interest (Section 24): If you have a home loan, you can claim up to Rs. 2 lakhs on interest paid.
These are some of the things that you can do to save tax on 16 lakhs salary. I hope this helps.
Get Assistance on Property Tax Assessments through NoBroker Legal Services Read MoreHow to Save Tax for Salary 10 Lakhs?
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How to Save Tax for Salary 16 lakhs?
Dhiren
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2024-07-31T16:11:48+00:00 2024-07-31T16:11:49+00:00Comment
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