8 Ways Salary Hike Affects Your Tax Redemptions

7. Books, Newspapers and Telephone

Yes, books, news papers and telephone bills can also help you lower your taxable income if your employer includes these in your salary package. For an instance if you have to pay Rs.5, 000 per month for newspaper, telephone and books you can save up to Rs.18, 540 under the 30 percent tax slab. All you need to do is, ask your employer to add these perks into your compensation package.

8. Food and Gift Coupons

Many companies provide food and gift coupons like Sodexho coupons which can be used at many occasions like restaurants and retailers, instead of paying cash. Even these coupons can help you avail tax redemptions. If you are using meal coupons worth Rs.2, 600 per month, you can save up to Rs.9, 640 under the 30 percent tax slab.

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