Latest news with #RaghavGahlaut
Time of India
05-05-2025
- Business
- Time of India
Gahlaut can save Rs 1.8 lakh tax by switching to new tax regime
Hyderabad-based data scientist Raghav Gahlaut is paying a high tax because his salary structure is not tax-friendly and he doesn't claim all deductions available to him. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad Gahlaut has opted to stay in the old tax regime because he gets tax-free perks, has a big home loan, and puts money in tax-saving investments. 'I know I could have saved more tax by investing in the NPS , but there is no surplus after my big home loan EMI of Rs.83,000,' he says. Even without the NPS investment , he will pay a marginally lower tax if he switches to the new tax regime . His tax outgo will reduce by Rs.1,16,240. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Algeria (Take A Look At The Prices) Container House Search Now Undo More tax can be saved if Gahlaut asks his employer to offer him the NPS benefit under Section 80CCD(2). NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees significantly. Live Events If the company puts 14% of the basic salary in the NPS, Gahlaut will save Rs.65,520 more under the new tax regime. Gahlaut and his family are covered by group health insurance from the company, but he has bought a cover on his own as well. He will not get tax deduction for the medical insurance premium under the new regime, but he should not stop it. If he wishes to stay in the old tax regime this year, he should reduce the special allowance component by Rs.2,10,000, stop ELSS SIPs, reduce contribution to the PPF to Rs.1,000 a year, and invest in the corporate NPS instead. He should also switch from fixed deposits to debt funds to lower the tax outgo. The old regime is marginally better for Gahlaut this year. However, the new tax regime is better for him from next year onwards as he stands to save Rs.1,81,740 under the new regime. WRITE TO US FOR HELP Paying too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments .
Economic Times
05-05-2025
- Business
- Economic Times
Gahlaut can save Rs 1.8 lakh tax by switching to new tax regime
Live Events Hyderabad-based data scientist Raghav Gahlaut is paying a high tax because his salary structure is not tax-friendly and he doesn't claim all deductions available to has opted to stay in the old tax regime because he gets tax-free perks, has a big home loan, and puts money in tax-saving investments. 'I know I could have saved more tax by investing in the NPS , but there is no surplus after my big home loan EMI of Rs.83,000,' he without the NPS investment , he will pay a marginally lower tax if he switches to the new tax regime . His tax outgo will reduce by Rs.1,16, tax can be saved if Gahlaut asks his employer to offer him the NPS benefit under Section 80CCD(2). NPS benefit does not add to wage cost or paperwork for the company, but it lowers the tax outgo for employees the company puts 14% of the basic salary in the NPS, Gahlaut will save Rs.65,520 more under the new tax regime. Gahlaut and his family are covered by group health insurance from the company, but he has bought a cover on his own as well. He will not get tax deduction for the medical insurance premium under the new regime, but he should not stop he wishes to stay in the old tax regime this year, he should reduce the special allowance component by Rs.2,10,000, stop ELSS SIPs, reduce contribution to the PPF to Rs.1,000 a year, and invest in the corporate NPS instead. He should also switch from fixed deposits to debt funds to lower the tax old regime is marginally better for Gahlaut this year. However, the new tax regime is better for him from next year onwards as he stands to save Rs.1,81,740 under the new too much tax? Write to us at etwealth@ with 'Optimise my tax' as the subject. Our experts will tell you how to reduce your tax by rejigging your pay and investments.
