The question we must ask ourselves is whether we are paying the right amount of taxes to national government. Are we really planning our taxes? If so, how are we going about it? are we planning it the smart way? Given rapidly changing tax laws, abolition of fringe benefit tax (FBT), new prequisites valuation rules, and the new Direct Tax Code (DTC) bill in the pipeline, we need to be really tactful and plan our taxes the smart way to meet the changing environment.
Every month tax is deducted from your salary. Now, unless you revise the pay structure to one which is more tax-friendly, you will continue to carry a lighter wallet. So, is there a way to offset this additional burden? Certainly. All you need to do is plan your taxes, claim your tax deductions and submit all your investment proofs to your employer. This will help you avoid undue tax deduction over the next 3 months.
Overall, planning is the key! Learn the facts about tax laws, plan your money spends and save your tax.
Every month tax is deducted from your salary. Now, unless you revise the pay structure to one which is more tax-friendly, you will continue to carry a lighter wallet. So, is there a way to offset this additional burden? Certainly. All you need to do is plan your taxes, claim your tax deductions and submit all your investment proofs to your employer. This will help you avoid undue tax deduction over the next 3 months.
Overall, planning is the key! Learn the facts about tax laws, plan your money spends and save your tax.
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