Medical Allowances & Travel Expenses - Your employer can provide you this facility for your benefits. You suppose to ask your organization.
Expenses- Could be part of Tax Savings like Tuition fees of your 2 Children's,Insurance of your family (husband/wife & Miner childrens) are also part of your tax saving.
Investments - You must do some investment which will build your corpos and protection. Tax Saving FD, Mutual Fund, PPF, NSC & Life Insurance.
Home Loan - Principal & Interenst both are will also help you reduce you tax eligibalities.
Medical Insurance - for Self and family part of additional Tax benefits.
Pension Schemes - NPS - National Pension Scheme like Atal pension Scheme will provide you additional Tax benefits
Donation of Some selective charities.
| Income Tax Slabs | Rate |
| Up to Rs.2,50,000 | NA |
| Rs.2,50,000 to Rs.5,00,000 | 5% |
| Rs.5,00,000 to Rs.10,00,000 | 20% |
| Over Rs.10,00,000 | 30% |
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Good post. Additionally, if one wishes to calculate their income taxes, then this online tax calculator would be of great help as it would make the process hassle free.
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