Chennai-based S. Sudarshan's tax outgo is very low at 4% of his annual income . This will reduce his tax by Rs 8,240.The tax outgo can be reduced further by investing Rs 50,000 in the NPS under Sec 80CCD(1b). If he pays a premium of Rs 30,000, his tax will come down by another Rs 6,180.Paying too much tax? Our experts will tell you how to reduce your tax by rejigging your pay and investments. Sudarshan's employer does not allow changes in the pay structure.

Source: Economic Times June 13, 2016 02:01 UTC