Tax Saving

When you leave a job after a long tenure, you receive several payouts that look like one big pile of money. They are not treated equally by the Income Tax Department. Getting this wrong in your ITR can mean paying more tax than required - or attracting a scrutiny notice. Here is how each component is taxed. Gratuity Gratuity is a defined benefit payment from your employer, calculated as 15 days of last drawn salary for every completed year of service. ...

A detailed comparison of ELSS mutual funds and PPF for tax saving under Section 80C. Returns, lock-in, risk, and taxation - everything you need to decide.

Section 80D is one of the most underutilized tax deductions in India. Many people claim it partially, claim it wrong, or miss deductions they are entitled to. Here is the full picture. What Section 80D Actually Covers Section 80D allows deduction from taxable income for: Health insurance premiums paid for yourself, spouse, and dependent children Health insurance premiums paid for your parents Preventive health check-up expenses (within limits) Medical expenditure for very senior citizens (if no insurance available) These are separate buckets with separate limits, which is where the confusion starts. ...

EPF withdrawal is full of conditions, timelines, and tax traps. Here is every rule simplified - when you can withdraw, how much, and what gets taxed.

You see “employer PF contribution: 12%” on your CTC breakdown and assume that money goes into your EPF account. Most of it does - but not all of it. A significant chunk goes somewhere else entirely, and understanding where changes how you think about your retirement savings. The 12% Split: EPF and EPS Your employer contributes 12% of your basic salary + dearness allowance toward PF. This 12% is not entirely credited to your EPF account. It is split: ...

You have Rs. 1.5 lakh to invest under 80C. Three main choices compete for it. Here is the honest comparison by returns, lock-in, flexibility, and tax treatment.

FD interest is taxed at your income slab rate and TDS is deducted even before you receive it. Here is the full picture of how FD taxation works - and legal ways to reduce it.

Most employees never properly read their salary slip. Here is every line item decoded and the specific deductions you might be able to legally reduce.

The old vs new tax regime debate has a clear answer for most income levels in 2026. Here is the exact breakeven calculation and who should be on which regime.

Paying rent to your parents and claiming HRA exemption is one of the most effective tax-saving strategies available to salaried individuals. When done correctly, it is completely legitimate. When done sloppily, it is a red flag for the Income Tax Department. Here is how to do it right. The Basic Rule Under Section 10(13A) of the Income Tax Act, HRA exemption is available if: You actually pay rent You live in a rented accommodation The house is not owned by you Paying rent to a family member (parent, sibling) is allowed. The only person you cannot pay rent to for HRA purposes is your spouse - courts and the IT department consistently hold that spouses living together cannot have a landlord-tenant relationship. ...

Filing your own ITR as a salaried employee is straightforward if you follow the right sequence. Here is the exact process, step by step, for AY 2026-27.

You have maxed out Rs. 1.5 lakh in 80C. But there are seven more deductions available that most salaried taxpayers under the old regime never use.

Filing the wrong ITR form can get your return flagged or rejected. Here is a plain-language breakdown of who should use ITR-1, ITR-2, and ITR-4.

Most people know NPS Tier 1 as the retirement account with a lock-in until 60. Far fewer know about Tier 2 - the voluntary savings account attached to NPS that has no lock-in, no withdrawal restrictions, and in one specific scenario, a significant tax advantage over mutual funds. Here is the full picture. What NPS Tier 2 Is NPS Tier 2 is an add-on investment account you can open only if you have a Tier 1 NPS account. The mechanics are nearly identical - same fund managers (SBI Pension, HDFC Pension, ICICI Prudential Pension, etc.), same asset classes (equity, government bonds, corporate bonds), same PFRDA oversight. ...

If you are 28 and salaried, you already have EPF running in the background whether you chose it or not. The question is whether you should also open an NPS account - or whether EPF alone is enough to retire comfortably. The short answer: both, for different reasons. Here is the longer answer. What Each Account Actually Does EPF (Employees’ Provident Fund) is mandatory for employees earning below Rs. 15,000 basic salary per month, and voluntary above that. You contribute 12% of basic salary, your employer matches 12% (of which 8.33% goes to EPS pension, rest to EPF), and the government sets the interest rate each year. Current rate: 8.25% for FY2024-25. ...