How to structure your salary to minimize tax liability
SummaryUnderstanding salary components and their taxation is crucial for employees to maximize their take-home pay
Job satisfaction matters. What matters more is the remuneration. All salaried employees will vouch for that. That’s the reason why they look forward eagerly to the first quarter of the financial year _ when salaries are revised. Thereupon, there is a mad scramble to understand the latest pay package and calculate the percentage of hike received. Not all employees can instantly decipher what the hike implies. The few who do immediately understand that taxes are a bitter part of their lives and jobs. The rest realize it when the salary is credited into their bank accounts.