Tax-Saving Strategies for Indian Employees: Maximizing Returns on CTC in 2024 Introduction: For Indian employees, maximizing tax savings while optimizing their Cost to Company (CTC) is crucial for financial well-being. With the right strategies and planning, employees can minimize their tax liabilities and enhance their take-home pay. In this guide, we'll explore effective tax-saving strategies tailored to Indian employees based on their CTC. 1. Optimize Tax-Advantaged Investments: - Employee Provident Fund (EPF): Maximize contributions to EPF, which not only helps in retirement planning but also qualifies for tax deduction under Section 80C of the Income Tax Act. - Public Provident Fund (PPF): Invest in PPF to avail tax benefits under Section 80C, with the added advantage of tax-free interest accrual and maturity proceeds. - National Pension System (NPS): Consider investing in NPS for additional tax benefits under Section 80CCD(1B), allowing an ex...
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