Navigating Tax Liabilities on a 90k Salary: How Can I Maximize My Savings?

I've just started a new venture and am earning a salary of 90k per month. I want to know what kind of tax liabilities I will have under the 30% slab and how I can save on maximum tax liability under different chapters. My major concern here is to save as much tax as possible.

I also wish to buy a car worth 7.5 lakhs, and being an employee, I know I won't be getting a tax deduction for that. What are the options available to save on taxes?

Thank you.

Investment Options for Tax Saving

1. Investment up to ₹1.20 lakhs includes children's education fees, PF, LIC, NSC, etc.

2. Housing loan

3. Salary breakup for LTA

4. Medical reimbursement

5. Mediclaim policy, etc.

Your income tax liability depends on the nature of your employment and your salary structure. Additionally, apart from the above, you can also make donations to trusts and political parties, which will help you qualify for deductions ranging from 50% to 100% of the donated amount.

If you are an employee, you will not receive any deduction for the car you are purchasing.

If you need any assistance with this, feel free to reach out to me.

Regards,
Nilay