18 lakh Income and ZERO Taxes | The Smart Ways to Save Income Tax

In this video, you will discover effective tax planning tips to minimize your taxable income and learn how to pay zero taxes on 18-lakh income.
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➡️Taxes on 18 lakhs salary
➡️Tax liability for 18 lakhs
➡️rs 18 lakhs tax liability
➡️How to pay tax on 18 lacs?
➡️How to pay zero tax?
➡️How to pay zero tax on a salary of Rs 18 Lacs?
➡️18 lakh salary income tax
➡️How to pay Zero tax on salary upto Rs 18 - 20 Lakhs
➡️How can you save taxes on the income of 12 lakhs?
➡️Pay zero tax on 18 lakhs
➡️Pay zero tax on 18 lakhs income
➡️Pay zero tax on 18 lakh salary
➡️Pay zero tax on 18 lakh salary in india
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Time Stamps:
00:00 Introduction
01:21 Tax slabs in new tax regime?
02:08 Tax calculation on taxable amount 17,50,000
02:21 How much taxes to pay under the new tax Regime?
02:48 Salary structure
03:35 How you can minimise taxes by using additional deductions under old tax regime?
06:25 National Pension Scheme 80CCD(1)
06:43 National Pension Scheme 80CCD(2)
07:50 Interest on Education Loan
08:29 LTA(leave travel allowance)
09:52 Essential facts related to tax saving
11:06 Can you really claim a high Deduction under HRA?
11:40 When should he choose a new tax regime?
12:12 Can you claim high LTA?
12:41 I have also buy my house on home loan but I am living on rented house
14:26 Conclusion
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#IncomeTax #SaveTax #TaxPlanning #salry
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[investingdoneright]

There is correction. Total Tax under New Tax Regime is Rs 225000 + 4% Cess

[MayurMahindrakar]

In video @2:12 the calculation of total tax comes as ₹225000 whereas it is shown as 215000, so total tax liability is ₹234000 whereas it is shown as ₹223600. Such a basic mistake at start of the video itself.
Another mistake @6:49 it shows interest over savings amount limit of ₹10000, please understand this is actual interest earned which is tax free up to ₹10000. If you are earning interest it gets waived off, if you don't earn it doesn't get deducted from your income. You can not write it off your income as negative
Also if we deduct as per this table if all these deductions are being claimed (remember you have to pay them off to claim) the remaining annual gross is ₹537880 which translates to ₹44823 per month. (also there are assumptions that the Home loan principal, Education loan principal and PF deduction is already covered in the ₹150000 under section 80C and if it is not, that is further deduction)
so from ₹150000 per month you come to less than ₹45000 per month with those investments spends.
and the video didn't show zero tax on 18L income at all; so is this a clickbait, definitely yes.

you also missed few additional things like loan for electrical vehicle, vehicle maintenance/fuel in this calculation. Business trip expense claims (though you covered to get many expenses added)

[rakeshvasani]

Amazing video, explained everything i wanted. Much appreciated. Thanks

[meghnashah]

Can HRA be claimed as rent paid to parents for an ownership house jointly owned by self and parents. So HRA for the proportionate property owned by the mother?

[SubhaRanjanSwain-ld]

Mam please suggest how can my father save tax on FD which annual return is 12 lakhs. He is senior citizen and got money from land acquisition by govt

[dhruveshchavda]

I have bought a new home on loan and i am living in another rented home in same city. Should I claim home loan principle & interest and HRA both?

[KunalMahajan-pquf]

Very interesting & knowledgeable video + depth information provided. Kudos 🎉👏 subscription added 😊

[sudheeraadi]

Preventive health is included in 75k limit na y u mentioned seperately?

[maheshrathore]

I really appreciate the information you provided through this video.

[bilal_ahmed_]

You have forgotten to include interest on saving bank account under other source,
Because you have claimed deduction under 80TTA

[ushabasavaraj]

Hi, NPS of additional 50k is eligible for tax exemptions only if it's additional to 80C slab, does this mean only if I invest 2lakh I will be able to claim this additional exemption?, what if I complete 80C component with my ELSS investment and invest 50k in NPS, can I claim it under 80CCD?

[ajay.y]

Very well explained👍Can you please help me with my question? I have a home loan on my retired father's house who is a co-borrower in the loan and I live in the same house. I claim exemption (u/s 24b) against interest paid on the loan. Can I also claim HRA for living in his house? I pay him 20k per month in his account.Nobody has been able to answer me correctly on this. Please do answer. Thanks.

[Anish]

Fokat complicated banake rakdiya hai Indian government ne.

[sumanpanditt]

Maine LTA ka form fill kiya tha to mujhe 10k mila tha previous month me.. Kya main itr me claim kr sakta, aur kitna krna chahiye