TaxTMI 
TaxTMI 
please suggest the deducations for Salary person with annual income 20 Lakh.
who much tax will make???
Income Tax Deducation for Annual salary 20 lakh & who much tax will make.
27 Oct 2023 
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Income tax deductions: salaried taxpayers should assess allowances, housing loan and investment deductions and compare tax regimes.
Evaluate deductible components-House Rent Allowance, housing loan interest and principal, investment-related deductions, health insurance premiums and charitable contributions-and compute tax liabilities both under the legacy regime with applicable deductions and under the alternative regime without many exemptions to determine which yields a lower tax. Given factual variability, obtain a specialist's anticipatory computation. (AI Summary)
Evaluate deductible components-House Rent Allowance, housing loan interest and principal, investment-related deductions, health insurance premiums and charitable contributions-and compute tax liabilities both under the legacy regime with applicable deductions and under the alternative regime without many exemptions to determine which yields a lower tax. Given factual variability, obtain a specialist's anticipatory computation. (AI Summary)