It’s important to note that completely eliminating income tax liability on a salary of Rs 20 lakh or more in India is not feasible due to the progressive tax system. However, there are legal strategies to minimize tax liability. Here are some general approaches:

1. Utilize Deductions: Take advantage of deductions under Section 80C, which allows deductions of up to Rs 1.5 lakh for investments in instruments like PPF, EPF, NPS, ELSS, life insurance premiums, etc.
2. Invest in NPS: Additional deductions of up to Rs 50,000 are available under Section 80CCD(1B) for contributions to NPS.
3. Utilize House Rent Allowance (HRA): Claim exemptions on HRA based on actual HRA received, rent paid, and city of residence.
4. Claim Interest on Home Loan: Deduct interest on home loan under Section 24(b) and principal repayment under Section 80C.
5. Utilize Leave Travel Allowance (LTA): Claim LTA for domestic travel expenses.
6. Medical Insurance Premiums: Deduct premiums for health insurance policies under Section 80D.
7. Interest on Education Loan: Deduct interest on education loans under Section 80E.
8. Invest in ELSS: Invest in Equity-linked Savings Schemes for potential returns and tax benefits under Section 80C.
9. Utilize Tax-Saving Fixed Deposits: Invest in tax-saving fixed deposits for deductions under Section 80C.
10. Optimize Salary Structure: Structure salary components effectively to minimize tax liability.
11. Donations to Charitable Institutions: Deduct donations to eligible charitable institutions under Section 80G.
12. Utilize NRE Account Interest: Interest earned on NRE accounts is tax-exempt in India.

While these strategies can significantly reduce tax liability, it’s unlikely to reduce it to zero, especially with a salary of Rs 20 lakh or more. Also, tax laws may change, so consult with a tax advisor for personalized advice.

Disclaimer: The information provided in this document/article is for general informational purposes only. While we strive to ensure the accuracy and reliability of the data presented, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information, products, services, or related graphics contained herein for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

We do not endorse or make any representations about the validity, accuracy, reliability, or completeness of any information, facts, views, opinions, statements, or results discussed or provided in this document/article. Any action you take upon the information presented here is strictly at your own discretion and risk. We will not be liable for any losses or damages in connection with the use of this information.

It is recommended to verify all information and consult with relevant experts or professionals before making any decisions or taking any actions based on the information provided in this document/article.