Tax Planning For Salaried Employees

Raghu Palat


In Circulation

The book is for the salaried employee to help him plan his affairs in such amanner that he is able to minimize the incidence of tax, and maximize his takehome pay. As the author says, "After having paid more tax than was necessary in the first two years of my employment in India, and having grappledwith the intricacies of Indian personal tax, I was determined to write a simplebook that a layman would understand. This book achieves this objective effortlessly."

What will you learn from this book

  1. Understanding Taxation Basics: Explaining the basics of income tax, tax slabs, deductions, and exemptions applicable to salaried individuals.

  2. Importance of Financial Planning: Highlighting the significance of financial planning and how it can help optimize tax liabilities for salaried employees.

  3. Tax-Saving Investments: Discussing various tax-saving investment options available under Section 80C of the Income Tax Act, such as PPF, ELSS, NSC, and life insurance.

  4. House Rent Allowance (HRA) and Home Loan Benefits: Explaining how HRA and home loan repayments can be utilized for tax benefits under the Income Tax Act.

  5. Employee Benefits and Perquisites: Understanding how benefits like medical allowances, travel allowances, and others are taxed, and how to optimize their usage for tax savings.

  6. Understanding Form 16 and Income Tax Return Filing: Guiding salaried employees on understanding Form 16, necessary documents for filing taxes, and the process of income tax return filing.

  7. Tax Deductions Beyond Section 80C: Exploring other tax-saving avenues beyond Section 80C, such as deductions for medical expenses, education loans, and donations.

  8. Importance of Tax Compliance: Emphasizing the importance of complying with tax laws and avoiding tax evasion while maximizing legitimate tax benefits.

  9. Changes in Tax Laws and Updates: Providing insights into recent changes in tax laws, amendments, and updates that affect salaried employees and their tax planning strategies.

  10. Tax Planning Strategies: Offering practical tax planning strategies, tips, and recommendations specifically tailored for salaried individuals to minimize tax outflows.

Language English
ISBN-10 8179921611
ISBN-13 9788179921616
No of pages 155
Font Size Medium
Book Publisher Jaico Publishing
Published Date 01 Jan 2007

About Author

Author : Raghu Palat

1 Books

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