how much would be the tax deduction on an anuual package of Rs3,80,000?

Answer 1

Hi
Income tax calculations differ from one person to another.
So its better that you see a proper professional person to do your tax calculations and tax savings for you.
But for now supposing that you have no tax saving instrument and all the income you told me is taxable(in reality it would not be the case) then your annual tax liabiity comes to around Rs.65,280.
But you can avoid paying tax by investing in tax saving instruments like LIC, PPF, NSC etc.

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