While changing jobs you must ensure that get all your pending salary dues along with gratuity dues, if any. One should also consider tax implications on issues such as premature withdrawal of PF accumulation. Are you looking for a job change or already in the process of joining a new company? Job change is a continuous process with all organisations making fresh hires and … [Read more...] about Planning to change your job? Here are some money tips for you.
Income & Investments
NPS Can Help Staff Get 1-3% More at No Extra Cost to Companies
TAX ADVANTAGE Employees can save additional tax of up to 3% of their basic salaries if companies roll out the New Pension System. HR managers and CFOs struggling to retain talent without escalating wage costs might get help from an unlikely source this year. If companies roll out the New Pension System (NPS), their employees can save additional tax of up to 1-3% of … [Read more...] about NPS Can Help Staff Get 1-3% More at No Extra Cost to Companies
TaxOptimizer: Home loan, NPS can help salaried Thakur save tax
More than 10% of Vikram Thakur’s total income goes in tax. The Goa based manager is not able to claim full exemption for his house rent allowance because his rent is very low. His tax saving investments are also not optimised. TaxSpanner estimates that Thakur can reduce his tax by almost Rs 73,000 if the pay structure is rejigged, he saves more for retirement and also takes a … [Read more...] about TaxOptimizer: Home loan, NPS can help salaried Thakur save tax
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 tinkering with the pay structure, Taxspanner … [Read more...] about Why Salaried Verma Should Get Employer To Stop HRA, Save Tax
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 professional on higher … [Read more...] about Who is More Tax Efficient – a Salaried employee or a Consultant?
