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10 Tax-Saving Options for Salaried Employees in 2024

Looking to save on taxes? Check out these 10 tax-saving options for salaried employees in 2024.

FAQs on Tax-saving options for salaried employees

Have questions? We are here to help

How can a salaried person reduce income tax?

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To reduce income tax on your salary, some of the options available are:

  1. Invest in PPF
  2. Invest in an ELSS scheme
  3. Maximize HRA allowance
  4. Purchase health insurance plans or buy super-top up insurance plan
  5. Use tax-free meal cards, fuel allowance, books and periodicals allowance, etc.

Can I claim my phone bill on tax?

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Yes, the Indian Income tax law permits employees to claim tax-free reimbursement on telecom allowance bills like mobile and internet bills. The reimbursement limit is set to the lower of the actual bill amount or the amount mentioned in the CTC.

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