Salary Components: The Ultimate Tax-Saving Hack

If employees focus on structuring their salary components, not only can they maximize their take-home salaries, but also minimise the income tax burden.

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    Comments

    1. comment-author
      Deepak

      Is the Newspaper and Journal Allowance also a non-taxable part in salary Structure? If yes, then what is the permissible limit for its non-taxability.

      1. comment-author
        Rishabh Ranjan

        Hi Deepak,

        For newspaper and journal allowance, an amount up to Rs 12,000 per annum is tax-free against submission of bills.

      1. comment-author
        Rishabh Ranjan

        Hi Narasingh,

        We suggest you take the utmost advantage of the tax exemptions made available under the IT Act. You could consult a finance professional who would be better placed to help you save taxes.

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