Dilip Vaz does not have too much scope to reduce his tax because his employer does not allow tweaking of the pay structure. Taxspanner estimates that he can bring down his tax by around Rs 8,652 if he invests more for retirement and buys medical insurance for his family. Vaz should invest Rs 50,000 in the NPS under Section 80CCD(1b). This will reduce his tax by Rs 5,150. He … [Read more...] about Salaried Vaz can cut tax outgo by investing in NPS
Tax Optimization
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 the financial year. Keeping tax saving as the … [Read more...] about Link Your Tax Saving Plans with Your Goals
Is Longer Holding Of Stocks For Tax Relief Good For Investors?
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 Finance Ministry is understood to be … [Read more...] about Is Longer Holding Of Stocks For Tax Relief Good For Investors?
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 his special allowance by Rs 90,390 and put that amount in … [Read more...] about Sreenivasan can cut tax outgo by taking home loan, med insurance
6 Reasons for Your Higher Taxes and Poor Tax Management
Higher Taxes And Poor Tax Management Here are a few tax management choices that determine you tax outgo and why you could be paying more taxes than your peers in the same income and age group: Higher taxes poor tax management Tax Expert vs. Assumptions: Tax experts have complete and accurate knowledge of tax laws just like you must have in your domain. Since you are not as … [Read more...] about 6 Reasons for Your Higher Taxes and Poor Tax Management
