Chennai-based finance professional Venkat Subramaniam earns well, but pays a high tax because his salary is not very tax-friendly.
With very few tax-saving options, Subramaniam has opted for the new tax regime .
He can also claim deduction of Rs.1 lakh under Section 80U for his dependant father’s disability.Subramaniam’s salary structure is very sparse, with just three income heads and is fully taxable.
Under the old tax regime , many perks are tax-free.
If his company puts Rs.10,165 in the NPS every month, his tax will reduce by over Rs.38,000.Paying too much tax?

Chennai-based professional can save Rs 92,000 tax with NPS, other perks; here's how