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Pay 0 Tax on Your Salary | Start of Year Strategy
Original: Pay 0 Tax on your salary | Year Starting లోనే ఇలా చేయండి | Follow this Strategy | Money Purse
Takeaway
Restructuring salary at year-start across HRA, LTA, medical, meal pass and term/health insurance can dramatically cut tax leakage for salaried workers.
Summary
- Salary increments averaging only 9-9.5% last 2 years against rising inflation - restructuring salary at year-start is the practical lever
- Salary heads split: Fully taxable (basic, DA at 50% of basic, incentives) vs Partially taxable (HRA, medical, LTA, meal pass, allowances)
- HRA: 50% of basic in metro cities, 40% otherwise; many under-claim due to landlord PAN refusal - own-home owners can still claim by paying rent to parents/spouse and they declaring it
- Other partial-tax benefits: medical allowance Rs 15,000/year with bills, LTA in 2-of-4-year block on Indian travel with bills, Sodexo meal pass Rs 2,200/month (Rs 26,400/year exemption)
- Term insurance gives Section 80C exemption, health insurance gives 80D - add accidental death/disability and critical illness riders to term plans
HRAtax savingsalary structure
Original description
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