Design a package for 13 lakh so that minimum TDS is deducted considering ALL THE SAVING A PERSON CAN DO under all sections

i have changed the job and now my current package is 13,00,000 (13 lakh ).Now in this new company there is no PF .Kindly please help me design a package for 13 lakh so that minimum TDS is deducted considering ALL THE SAVING A PERSON CAN DO under all sections and provisions. I want that minimum TDS should be deducted . Please nOTE since i am in senior position so car phone etc is all extra to this 13 lakh package . 13 LAKH IS JUST TAKE HOME - TDS.

Dear Mr.Rsingh

Whatever is coming into your salary slip will be considered for your INCOME TAX Calculation. So the best way is to reduce the INCOME TAX is to split the salary into
salary and reimbursements. For Reimbursements you need not have to pay tax
Few examples of reimbursements are --- Medical reimbursement, petrol reimbursement,Vehicle maintenance, Driver salary etc. You may please check with your
employer in this regard. There are certain ceiling also in this category.

Another option is go for Rent Free accomodation in case you are not staying in your
own house. Here you need to check the actual benefit, because in such case
15% to 20% of your total salary may get added to your total income in case you opt for
this . So you need to Analise the actual benefit in this

For tax savings it is not necessary that you can get exemption of Rs.1 lakh under Chapter V
1. INSURANCE PREMIUM PAID FOR SELF ,SPOUSE
2. Children's school fees
3. National savings Certificate --(check the schemes eligible under this)
4. Equity Linked insurance Schemes
5. Principle repayment of Housing Loan
5. 5 YEAR FIXED DEPOSITs with Banks etc.........

In case you have a housing loan interest upto 1.5 lakhs exemption will be available
In addition you can get exemption of Rs.20000/- in infrastructure bonds
Also mediclaim insurance for self and dependence are addition to this

I just gave an idea of savings, but please check the limits in this.

Hope that this will help you

Regards

VENUGOPAL

Dear Mr.Singh
I do not understand why you are not getting the break up. Request the new employer to give the break up of the package. Definitly they will give.
Then if you need any change in that you can request them to change it. The salary package variants differ from Company to Company, but before getting the appointment letter you should check the details first. Later on it may not be possible
Regards
VENUGOPAL

thanks venu for the advise .I have already asked for and they will give But i wanted to have a break-up in my hand too so that i can get the things changed . Anyway thanks a lot.