New to Tax
Hello all, so I'm a student still, I'll would be joining a company soon and I want to learn about what all tax systems we have and how do I manage them, I want to do them myself in future, where do I learn and what all should I be aware of to save as much as I can? To start with, I come under 30% bracket, basic salary is about 50% of my base, HRA being 20%, PF 6% and Flexible 24%. I don't have any loans on my name and I'll have to live on rent. I'm also curious on which sections could I be saving and how.
StingyMob
Stealth
7 months ago
Some of the beginner mistakes I hope I avoided.
Taking LIC/ulip in the name of tax savings. Not entering stock market soon. Not getting NPS early. If corporate NPS even better you can save upto 10% of basic as taxfree.
StingyMob
Stealth
7 months ago
If your income is high enough your epf might max out your 80c
lru_cache
Student
7 months ago
@StingyMob96 Really thanks for sharing, It helps a lot, I'll definitely remember them and make sure that I wouldn't make these mistakes. Have a great day ahead! 😀
PersonalFinanceAbhi
Stealth
7 months ago
Hello good to see you starting on a high package. Connect and Dm me on LinkedIn- Abhishek Viramgami. I will guide you for your tax planning based on your salary structure. I am a financial planner!
lru_cache
Student
7 months ago
@PersonalFinanceAbhi Thanks!
