Save tax on bonus

If you get bonus from your employer then that is fully taxable in the respective year. In case if you want tax reductions for next year then request your employer to push your bonus to next year. In addition to that provide your employer with all the needed tax investments detail in order to prevent tax reduction.

Leave Travel Allowance

Ensure to use Leave Travel Allowance for your holidays, which is available twice in a block of every four years. But in case if you have been unable to claim the benefit in a particular four- year block, then you could now carry forward one journey to the succeeding blocks and claims it in the first calendar year of that block. Thus, this will help you with the eligibility for three exemptions in that block.

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