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Blog Entry# 1217592
Posted: Sep 18 2014 (07:26)
3 Responses
Last Response: Sep 18 2014 (09:03)
3 Responses
Last Response: Sep 18 2014 (09:03)
On IRI many might be government employees. I was just wondering How much can a govt. employee save from his salary? Is there any bar on savings of a govt. employee? For example : If my salary is 40000 INR (after tax deductions) can I save 60% of my salary i.e 24000 INR?
you can save 100% of your salary if you have no expenses like rent (staying in own home), food (growing and cooking your own food) and clothing etc.. there is no bar as such.. it totally depends on your standard of living
It means yours income will be around 5 lakh annually . for a individuals upto age 60 rs 2,00,000 is exempt , between age 60-80 rs 2,50,000 is exempt , and above 80 rs 5,00,000 is exempt . I am guessing your age is below 60 then you had to pay tax for rs 30000 .
The taxes can be reduced if you put it for pf ppf it will be deducted to a maximum limit of rs 100000 annually under sec 80c .
if some expense made on...
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The taxes can be reduced if you put it for pf ppf it will be deducted to a maximum limit of rs 100000 annually under sec 80c .
if some expense made on...
more...