Tax savings tips: NPS, new tax regime can save nearly Rs 1 lakh tax for this Hyderabad professional

Big tax savings are possible if his company offers Kumar the NPS benefit. Under Section 80CCD(2), up to 14% of the employee’s basic salary put in the pension scheme is tax-free. This limit is lower at 10% of the basic salary for those who opt for the old tax regime. Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

from Tax-Wealth-Economic Times https://ift.tt/I9RvlsX