The general government budget front, personal income tax relief to taxpayers. We’re going to show you here how you can lay claim to tax on income up to Rs 7.5 lakh.
Will be zero tax on income up to Rs 3 lakh per annum.
According to the new tax rate, people with an annual income of Rs 3 lakh will have to pay an annual 5 percent tax on taxable income. No tax on income of Rs 2.5 lakh.
Rs 1.5 lakh tax exemption on investment can take.
You can get tax relief on investments of up to 1.5 million. You can invest up to Rs 1.5 lakh in Public Provident Fund, life insurance and MEDICLAIM under 80C.
Discounts of up to 2.5 lakh home loan
If you can get a discount on loans up to Rs 2 lakh on have taken loans. You have got possession of the building it is needed. But if you bought a home for the first time, you can get tax relief on interest up to Rs 2.5 lakh.
Salary for both business class and the people of this option.
Use these options to save tax on annual income up to Rs 7.5 lakh people could both salaried as well as businessmen. The salary class of businessmen will not be any tax on annual income up to Rs 7.5 lakh.