Bengaluru-based IT professional Anumod Sharma has a fairly tax friendly salary structure but he does not avail of all the deductions available to him, which has pushed up his tax liability. Taxspanner estimates that Sharma can reduce his tax by nearly Rs 52,000 if he avails of the NPS benefit offered by his company and he invests more in the pension scheme on his own.Sharma … [Read more...] about Tax optimiser: IT professional Sharma should use NPS instead of PPF to save tax
Companies have started working on the compensation plans for the new financial year. Many have already asked their employees to submit their tax declaration for FY 2020-21. Among other things, employees are also being asked whether they want to be taxed as per the old or new tax regime. The Finance Bill 2020 proposed a new tax regime with lower tax rates. The intent was to … [Read more...] about Old Tax Regime is better than New Tax Regime for your family’s financial wellbeing.
Tax Optimizer – Frequently Asked Questions About Tax Optimizer: Q: What is Tax Optimizer (TO)? A: Tax Optimizer (TO) helps you optimize taxes, i.e., to plan and save more tax within your CTC. It also helps to cut your tax outgo by restructuring income, expenses and investments for deduction in the year based on the tax laws (Click here to know more). TO’s prime objective is … [Read more...] about Tax Optimizer helps in maximum tax saving as well as financial wellbeing of salaried employees
By Sudhir Kaushik of Taxspanner.com Surat-based engineer Nitin Sharma pays a high tax because his pay structure is not tax friendly. Although he claims almost all the deductions available to him, including HRA and home loan interest, more than 15% of his income goes in tax. Taxspanner estimates that Sharma can reduce his tax by more than Rs 50,000 if he gets a few perks and … [Read more...] about Tax optimiser: Engineer Sharma can cut tax by Rs 50,000 via NPS, perks
How to get a 15% increment every year and retire rich. PMAY is the cherry on the cake! Dear Taxpayer, If you are earning Rs 12 lakh a year, your total tax should be roughly Rs 1.5 lakh. Despite a tax efficient salary structure, sound investment advice and your own expertise of tax planning, more than 12% of your income would still get eaten up by tax The higher the income, … [Read more...] about Kar Se Ghar