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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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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How Delhi Based Kumar Can Save Rs 82,000 Tax by Using Home Loan Tax Break, Investing in NPS

(As published in ET Wealth on November 7, 2016) Surender Kumar pays almost 10% of his income in tax. Although he has a taxfriendly pay structure, Taxspanner estimates that the Delhi-based manager can cut his tax by nearly Rs 82,000 if he utilises the tax benefit offered on his home loan and puts more into […]

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