
Tax Saving Options for Salaried Employees
๐ข Tax Saving Investment Options for Salaried Employees ๐ฐโจ ๐ก Save Taxes with Section 80C (Up to โน1.5 Lakh) โ ELSS (Tax Saving Mutual Funds) โ 5-year Tax Saving FDs โ PPF (Public Provident Fund) โ Sukanya Samriddhi Yojana (SSY) โ Senior Citizens Savings Scheme โ Life Insurance Premium โ National Savings Certificate โ Principal Paid on Home Loan ๐ฉบ Health Insurance Tax Benefits ๐ Self & Family: Deduction up to โน25,000 ๐ Self & Family + Parents: Up to โน50,000 ๐ Self & Family + Senior Citizen Parents: Up to โน75,000 ๐ HRA (House Rent Allowance) Tax Savings Your tax-free HRA is the lowest of: 1๏ธโฃ Actual HRA from employer 2๏ธโฃ 40% of Basic Salary (50% for metro cities) 3๏ธโฃ Rent Paid โ 10% of Basic Salary ๐ก Home Loan Tax Benefits โ Deduction of up to โน2 Lakh on interest paid ๐ Education Loan โ No limit on tax deduction if the loan is for yourself, spouse, or children! ๐จ Remember: These deductions are available ONLY under the old tax regime for this FY! ๐ฌ Drop your questions in the comments & SAVE this post for later! ๐๐ฐ #TaxSaving #SalariedEmployees #IncomeTax