To Lower Tax Outgo Opt for ‘Consultant’ Status

Are you considering shifting from an employment arrangement with your company to a ‘consultant’ status to lower tax outgo leading to higher take-home package? As consultants you are required to pay a flat 10 percent tax on income while an employee is taxed as per applicable slab, the highest being 30 per cent along with […]

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Why Salaried Verma Should Get Employer To Stop HRA, Save Tax

Sudhir Kaushik of Taxspanner.com advises readers on how to restructure their income, investments and expenses to optimise their tax. Here is what he means when he says “stop HRA, save tax” Sujeet Verma pays almost 10% of his take-home pay in tax because his salary structure is not tax-friendly. Though his company does not allow […]

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Who is More Tax Efficient – a Salaried employee or a Consultant?

Tax implication of switching from being a salaried employee and a consultant and vice-versa. Often people consider changing status from salaried employee to a consultant status to reduce tax liability. Following are the queries: 1)What are the advantages and disadvantages of shifting from a salaried status to a consultant? a)Rate of TDS is lower for […]

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Budget’17 shifted indexation calculation base to 2001. Who gains?

Although the Budget did not propose any major changes on the tax front, the move to shift the base year for computation of indexed cost of acquisition of an asset could have an impact for investors. However, the impact would differ across assets that enjoy indexation benefit on long term capital gains real estate, unlisted […]

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Khanna can cut tax outgo by 90% by investing in tax saving instruments

Aaryan Khanna, 26, has just started working and is totally clueless about tax matters. Though his salary structure is very tax-friendly, his company has already deducted a lot of tax because Khanna has not made any investments under Section 80C other than the mandatory contribution to the Provident Fund and a life insurance policy that […]

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Trusted by the Most Trusted – SBI Prefers TaxSpanner

TRUSTED ACCURATE FAST Trusted by the Most Trusted SBI prefers TaxSpanner e-File with our Brand Guarantee India’s largest Bank, State Bank of India trusts TaxSpanner for five years now! Through ‘SBI e-File‘, we ensure accurate and fast filing of returns for thousands of employees and customers of SBI While filing returns, we always strive to achieve high […]

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