Tax saving checklist
Sample: Ananya, 32, product analyst in Bengaluru. ₹18 lakh a year, pays rent, one car loan, one child in school.
₹39,610 you can save
Five checks on your year. Each is a yes or no, with what it is worth.
- ✓Pick the cheaper regime before your employer's TDS declarationDone: new regime declared in April.Sec 202 (old 115BAC)
- ✕Move part of special allowance to employer NPSAsk HR to pay ₹1,00,800 a year (14% of basic) into NPS. Deductible even in the new regime.You save₹20,960Sec 124 (old 80CCD(2))
- ✕Book long term equity gains up to ₹1.25 lakh this yearSell and buy back holdings with gains so ₹1.25 lakh is taxed at zero this year, not later.You save₹16,250Sec 198 (old 112A)
- ✕Claim TDS the bank cut on your FDAIS shows TDS on FD interest. Claim it in the return so it comes back.You save₹2,400Sec 393 (old 194A)
- ✓Report savings and FD interest in the returnDone: ₹24,000 interest added under other income.Sec 92 (old 56)
You save in all₹39,610 a year