Tax saving tips: How you can legally pay zero tax on Rs 13.7 lakh salary

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Tax saving tips: How you can legally pay zero tax on Rs 13.7 lakh salary - Business Standard

Quick Summary:

The impact will be significant - millions of taxpayers will see their disposable income rise substantially, allowing them to meet the rising costs of education, healthcare, and daily essentials with greater ease.

Under Section 80CCD(2), up to 14% of an employee's basic salary invested in NPS can be tax-deductible, offering significant savings for those earning higher salaries.

The challenge lies in creating mechanisms that can replicate the behavioural benefits of tax-linked savings while maintaining the advantages of a streamlined system," said Dhirendra Kumar of Value Research.