If I make Rs 5lks in a year as salary + incentive, how much tax do I have to pay? How much of this tax can be saved by investing into a ELSS fund on Coin?

Zerodha Coin - Direct MF
1

Currently I make about Rs 5lks in a year as salary + incentive, how much tax will I have to pay currently? How much of this tax can be saved by investing into a tax saving mutual fund (ELSS) on Coin?

2

If you dont’ invest in ELSS, you will pay Rs 12500 as taxes. First 2.5lks there is no income tax. From 2.5 lks to 5lks, you pay 5% or Rs 12500. If you save Rs 1,50,000 in ELSS, your net income comes to Rs 3.5lks ( 5lks -1.5lks). On this the first 2.5lks u pay nothing. On the 1lk you pay 5% or Rs 5000.

So you can save Rs 7500 (12500 -5000). You can visit coin.zerodha.com to get started.