How to pay Zero Tax for CTC of Rs 20 Lakhs for FY 2022-23 for Salaried while filing declaration with employer
How to claim maximum deduction while filing the declaration and pay Zero tax for CTC of up to Rs 20 Lacs in case of a salaried employee for FY 2022-23
A details on what all deductions a salaried can claim while declaring to the employer their estimated tax liability for FY 2022-23. Get maximum deductions which you can claim.
| Tax Deductions | Amount |
| Section 80C Exemption | 1,50,000 |
| NPS 80CCD(1B) Tax Exemption | 50,000 |
| Medical Insurance (Self & Parents) | 50,000 |
| Standard Deduction | 50,000 |
| Car Maintenance | 25,000 |
| Meal Coupons | 25,000 |
| EPF by Employer | 1,25,000 |
| NPS (Employer Contribution) | 1,00,000 |
| Mobile & Internet Bill Reimbursement Uniform Allowance Children Education/Hostel Allowance Newspaper/Journal Allowance Gift voucher Leave Travel Allowance | 1,25,000 |
| House Rent Allowance | 6,00,000 |
| Home Loan Interest | 2,00,000 |
| Gratuity (Not part of salary but component of CTC and is non-taxable) | 50,000 |
| Total – upto Rs 5 Lac Zero Tax as per Rebate u/s 87A | 4,50,000 |
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