If you plan properly and use all the exemptions and deductions properly, then you can surely save tax on a salary of up to Rs 12 lakh. For this, you will also have to keep your salary structure such that the tax scope is not high. Usually, at the beginning of the year, there is an option to change the salary structure. You can decide how much money you want in reimbursement and how much money as taxable salary. In reimbursement, options like conveyance, LTA, food-coupon or entertainment, internet or phone bill and petrol are available.

Take full advantage of HRA

Apart from this, there is also an option of HRA for tax saving. For HRA, you have to calculate 3 numbers and whatever is the lowest among them, you will get tax exemption on that.

1. The HRA given by the company in the salary can be claimed.
2. You can claim up to 50% of the basic salary in metro cities and 40% of the basic salary in non-metro cities as HRA.
3. You can claim HRA up to the amount that remains after deducting 10% of the basic salary from your total rent.

If your annual salary is Rs 12 lakh, then you should structure your salary in such a way that HRA is Rs 3.60 lakh, LTA is Rs 10,000 and telephone bill is Rs 6,000. You will get deduction on gross salary in this way-

• Standard deduction under section 16 – Rs 50,000
• Exemption from professional tax – Rs 2,500
• HRA under section 10 (13A) – Rs 3.60 lakh
• LTA under section 10(5) – Rs 10,000
• If you add all the above items, your taxable salary will now be Rs 7 lakh 71 thousand 500 (7,71,500).

The further calculation will be like this:

• Under Section 80C (LIC, PF, PPF, children’s tuition fees, etc.) – Rs 1.50 lakh
• National Pension Scheme (NPS) under Tier-1 under section 80CCD – Rs 50,000
• Health insurance for self, wife and children under 80D – Rs 25,000
• Deduction on health policy for parents (senior citizens) – Rs 50,000

Now the taxable salary will be less than Rs 5 lakh. If the taxable salary is less than Rs 5 lakh, then rebate and basic exemption will be available under section 87A. In this way your tax will become zero. It is worth noting that this formula will work on the old tax regime.

The post Tax Saving Tips: Zero tax on income up to Rs 12 lakh, Know how to save? first appeared on Rightsofemployees.com.

So that he can also take advantage of the discounts given by the department. Otherwise, any consumer will not deposit his house tax by 31st December. Strict action will be taken by the department against all such consumers.

Meerut Additional Municipal Commissioner Mamta Malviya said that notices are being sent to all such consumers related to the Municipal Corporation. On whom the department owes lakhs of rupees. He said that all such consumers are requested to avail the discount by depositing their house tax before December 31.

Consumers who will not deposit house tax on time. So action will be taken by the department against all such consumers as per rules. On one hand, consumers will be fined. Besides, their building can also be sealed.

12 wards have been identified.

Let us tell you that out of 90 wards related to Meerut Municipal Corporation, 12 such wards including Shastri Nagar, Brahmpuri, Lisadi Gate, Kankarkheda, Delhi Gate have been identified. Thousands of consumers living in these areas owe lakhs of rupees to the Municipal Corporation. The department will charge all these consumers as per the new house tax. These include buildings, shops and other types of property. Those who have been given notice of first 20 days.

Second notice will be issued,

after this another notice of 10 days will be given. If these people still do not pay their planet tax. So the buildings of all such people can be sealed by the Municipal Corporation under the rules. This sealing action will end only then. When the building owners deposit their taxes.

The post House tax: Deposit house tax before this date, otherwise the house will be sealed in the new year first appeared on Rightsofemployees.com.