Tax Planing — Salaried Employee

This is the cruelest month in some poor soul’s life who bungles on their tax planning every year. Mostly, they get a pay cheque which is a fraction of its usual size in April as they always delay in submitting a list of their tax-saving measures to the office.
First, do a review of your tax liability, to ascertain what and how much. You actually need to save as much tax as legally possible. It may be quite possible that the life insurance premiums that you are paying along with the PF deductions may be enough to take care of tax saving!
An individual can reduce its tax liability in two ways.

Read the full story »