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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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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Link Your Tax Saving Plans with Your Goals

Calculate your tax liability before investing. Also, tax saving should be incidental and not the primary objective for investing in a particular product. The idea of saving more taxes sounds attractive to everyone, but few plan for it. Usually, most people look for investment avenues that provide tax benefit in the last 3 months of […]

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Is Longer Holding Of Stocks For Tax Relief Good For Investors?

NRI Tax Saving

Stocks – Tax experts believe investors can gain if holding period for long-term capital gains (LTCG) exemption is increased to three years from the present one year since it would provide an impetus for building a stable equity portfolio and give a longer window for adjusting stock losses if any, besides reducing holding costs. The […]

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Sreenivasan can cut tax outgo by taking home loan, med insurance

Sreenivasan is an avid investor and has utilised nearly all the tax-saving opportunities avaliable to him. Even so, Taxspanner estimates that he can bring down his tax by more than 40% if his employer offers him NPS benefit and he takes a home loan and buys medical insurance. Sreenivasan should ask his company to reduce […]

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