How to Save tax in India if you have low spending and salary above 15LPA

Deal Cadet

I have recently started to look at my tax bill as this is the first time for me after 2 year of working in tech now able to cross 10 LPA and now getting paid around 13~16 LPA in cash.

The tax burden looks massive with new tax regime upwards of 2 Lac need to be paid and for old tax for a person with no student loan left , no plan to get a home anytime soon and also live in quite modest rented and home place so rent allowance is less then 2 LPA .

Also have good way to buy equity may it be US or indian equity like most savings goes their and looking at past 4 years other investments don’t matter that much.

I personally currently work at company that work in consultancy so can’t do much of other ways like NGO and Political funding to get around.

I guess my income is not that uncommon so how other people save tax.

Note I can’t give rent to my parents as either they are in higher or similar tax bracket as me.

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Deal Newbie Deal Newbie
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what is your tax burden in rupee terms as a % of your income.

Deal Newbie Deal Newbie
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2L on 16L is a modest rate of 12.5%.

Am i missing something here?

I pay 18% blended rate and don't sweat about it.

Deal Cadet Deal Cadet
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Same question

Helpful Helpful
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2L tax on 16L income is wrong calculation. its 1,71,600

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