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Showing posts from September, 2016

Employer-Employees and the agents! I did not say HR! You got it!

Salaried employees's gateway to the tax haven!

LIGHTS, CAMERA,ACTION.....CUT-CUT-CUT! GOOD SHOT!
Everyone taxpayer hates taxes. No salaried employee likes it! They feel they are being robbed of their earning. They blame employers, they blame government and they blame HR and Finance and payroll for their Big loss! 
Have seen organisations doing all kinds of circus to devise a magical salary structure concoction that defies all laws of CBDT! Saves most on the Income Tax and employees praise the lord! 
It is possible to save lots of taxes if you approach it this way. For salaried employees, here are gateways to the tax haven! 
Please refer to directives from the Income Tax Department/CBDT. Check the link below-
It lists all components under benefits, salary, perquisites where employees income is exempted from Income Tax.:
For quick reference, below are sections where relief can be given to salaried employees (legally).
For easy reference, here below is what I recommend. Moreover, we need to make our BASIC COMPONENT  at least 50% of the gros…