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SparklyCoconut
SparklyCoconut
Capgemini

Need financial suggestions on tax saving

I am having 21LPA package and I want to save taxes on the new tax regime. Please suggest

10mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
JumpyMochi
JumpyMochi
PhonePe10mo

Nothing in new tax regime. In old tax regime, you can benefit if you are paying/can show higher rent.
Do you have home loans or anything else?

SparklyCoconut
SparklyCoconut
Capgemini10mo

No home loan as of now.

JumpyMochi
JumpyMochi
PhonePe10mo

How much rent?

ZoomyWaffle
ZoomyWaffle
Student10mo

One question
If you have a loan then you have to pay tax?

GoofyPancake
GoofyPancake
Microsoft10mo

Yes if you salary falls in taxable slab

ZoomyWaffle
ZoomyWaffle
Student10mo

Like if you have a 10 lakh base
Then it ranges in taxable 30% Then you have to pay tax right
If you have a loan or not it doesn't matter

DizzyBiscuit
DizzyBiscuit
Morgan Stanley10mo

Similar situation with the same salary, no house loan and low rent cost. Currently in New Regime as there is really no use with the old one now.

MagicalPanda
MagicalPanda
Deloitte10mo

You can avail NPS deduction where employer is deducting your salary and putting it into NPS. Not the vice versa.

PerkyNoodle
PerkyNoodle
InMobi10mo

Are you looking to save taxes before filing itr? Or you want a plan for long term?
Also you can only claim deductions upto 50,000 in new tax regime

SparklyCoconut
SparklyCoconut
Capgemini10mo

I already filed an ITR for FY 23 looking forward to saving in the new tax regime

CosmicPotato
CosmicPotato
Ivanti10mo

I know you are asking for new regime but if possible switch to old one. Before switching just calculate if you exhaust the limit of 80C, 80D and actual HRA what is the difference.

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