How to increase your tax savings

How to increase your tax savings

Now that both houses of Parliament have passed the Finance Bill 2014, you can start taking advantage of the new tax proposals of Budget 2014-15. Revisit your tax-saving strategy for the year to maximise your take-home pay.

Reduce your tax outgo

Most organisations have already asked their employees to send revised investment declarations for the year to reassess their tax liabilities following the changes in tax laws. The sooner you do so, the better it will be.

"If you do not revise your earlier declaration, you will continue facing a higher tax outgo every month. Sending a revised declaration this month will allow you to fetch a higher takehome pay right away," says Kuldip Kumar, executive director, tax & regulatory services, PWC.

For More Source :

http://economictimes.indiatimes.com/wealth/tax-savers/tax-news/how-to-increase-your-tax-savings/articleshow/42394282.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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