Understand the importance of early tax planning to maximize tax savings and minimize tax liability. Decide on the beneficial tax regime based on your tax situation and explore different tax-saving options to reduce taxable income effectively.
It's important to note that the Standard Deduction of Rs 50,000, available to salaried individuals and pensioners, remains applicable in both the New and Old Tax regimes.
It is essential to be proactive in exploring tax-saving options to ensure that you are maximising your earnings. By taking advantage of tax-saving strategies, you can increase your take-home salary and ultimately improve your financial stability.
India Business News: New versus old tax regime: When determining the tax regime for TDS on salary, taxpayers typically use estimated figures for gross total income and pro