How Can I Restructure My Salary to Lower Tax Liability in Delhi NCR?

Dear Sir,

Kindly suggest the best salary structure to minimize tax liability. My gross salary is Rs 24 lakhs, and I work in Delhi NCR. Currently, the components covered under the gross salary are Basic/HRA/Conveyance. I would like to know what other components can be added to reduce tax liability.

Thank you.

Gross Salary - 2 Lacs per month
Basic - 50000
HRA - 25000
Conveyance - 1600
Medical - 1500
Special Allowance - 121900

Basic should be lower because we have to calculate EL's refund based on the Basic salary. Tax liability can be reduced if you allocate some of the amount as conveyance.

Dear Ms. Upasana,

Thank you for your response. I have two queries:

1) What would be the tax slab if we consider the salary breakup as shown by you?
2) What would the take-home salary be with this breakup?

Please clarify the above two points.

Regards.