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  Tax Bachat with Tax Laws

Do you know that there are more than 30+ tax saving options as available under Income Tax Act?  It has been observed that many times people end up paying more taxes than they are obligated to; While lack of sufficient time to conduct the tax-planning exercise is a reason, largely, this can be attributed to lack of awareness about different incentives, allowances, deductions and rebates under the Income Tax Act.

“So what are you waiting for; Avail our exclusive  Tax Bachat Plan now and optimize your tax savings to the fullest.”


Restructure Your Salary: Life Beyond 80C:

Restructuring the salary and including certain components can go a long way in reducing the tax liability. Unlike eligible investments which lead to an additional cash outflow, restructuring the salary is a more 'efficient' means of claiming tax benefits. The following can form a part of one's salary structure:
Our experts would help you to optimize your tax savings by evaluating and analyzing your CTC and suggest you multiple ways to allocate or re-allocate salary components. Some of the areas wherein you can restructure your salary (there are many others too):-

  • Food coupons like Sodexo and Ticket Restaurant;
  • Medical expenses;
  • House Rent Allowance (HRA);
  • Leave Travel Allowance (LTA);
  • Home loan ; Medical insurance;
  • Donations ; how joint home loan can increase your tax savings;
  • Creation of HUF also helps to save taxes 
  • Use section 54 to claim exemption from capital gains 
  • Plan better to avoid clubbing provisions on amount transferred to minor child and spouse.
  • If you are a salaried individual enjoying House Rent Allowances (HRA) from your employer and also own a residential house at other than work place , then you can avail the deduction of both (a) HRA and (b) Housing Loan repayment & Interest deduction
  • Avail benefit under section 89

 

 

 

"One stop shop for all services related to tax, investments, and future planning, Money Plant Consulting is the one you can always trust"

Mayank Madan
Senior BI Consultant, Capgemini (UK)



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