ITR Filing: When it comes to paying taxes on income, everyone wants to minimize their tax. Certain salary allowances are very helpful in saving taxes. These are allowances that you can claim as reimbursements and receive tax exemptions. The new financial year is about to begin, and this is the time to restructure your salary. If these allowances are not included in your salary, you can talk to your HR team to have them included. Let's learn about 10 such allowances that can help you save tax.

1- Traveling or Conveyance Allowance
This allowance is given to cover the cost of commuting between home and office. Many companies include it in your salary. If it's not included in your salary, you can save tax by including it.

2- Food Coupons or Entertainment Allowance
Tax can also be saved through food coupons, meal vouchers, or Sodexo coupons. Many companies provide this allowance of around ₹2,000-₹3,000 per month. This amount can be claimed tax-free upon presentation of a food bill.

3- Car Maintenance Allowance
Some companies also provide employees with an allowance for car maintenance. This can include petrol and diesel, car service, and even the driver's salary. If the company provides this facility, these expenses are tax-free.

4- Mobile Phone and Internet Allowance
Many companies provide reimbursement for mobile and internet bills. The employee submits the bill, and the company reimburses the amount without tax, up to a certain limit.

5- Uniform Allowance
Some companies also provide employees with an allowance for uniform expenses. This money is used to purchase and maintain the uniform and is tax-free.

6- Medical Allowance
Some companies provide a medical allowance for medical expenses for employees and their families. Reimbursing these expenses can reduce taxable income.

7- Newspaper, Magazine, and Book Allowance
Some jobs require reading newspapers, magazines, or books. Such companies provide employees with allowances for this. If your company offers this, including it in your salary can save tax.

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