@ETMONEY Under new tax regime u have missed - mobile and wifi allowance, meal voucher, car allowance and maintenance, employer contribution to EPF (12%) .
Talk to us @SaveRightHQ We bet you can save more taxes through efficient tax planning and salary restructuring.
In conclusion, From home loans to interiors, insurance choices, and joint loan strategies, every decision counts for maximum tax saving. For all the smart choices download @SaveRightHQ and chat with the best tax experts on the go.
Switching gears to joint home loans with your spouse. It's not just about love; it's about tax benefits too! If both partners are co-borrowers, each claim deductions on both interest and principal repayment.
Now, let's steer away from a common pitfall – insurance via banks. While getting a home loan, banks often push insurance plans. Consider this: Explore independent providers! You may find better coverage and lower premiums.
Diving deeper, let's talk interiors! Loans for home decor are not just for aesthetics; they're also tax-deductible. If you take a ₹2 lakh loan for interiors and pay ₹20,000 as interest, that's an additional deduction! Double the joy, double the savings!
Plus, If you repay ₹1.5 lakh of the principal amount. Under Section 80C, you can claim this amount too. So, your taxable income takes a dip, and you save more on taxes.
First off, Let's start with the cornerstone: The interest paid on your home loan is a treasure trove of tax deductions. For instance, if you pay ₹4 lakh in interest annually, you can claim the entire amount under Section 24(b)
We have built a TaxGPT for you !
Upload your form 16 on @SaveRightHQ and the AI suggests how you could have saved taxes.
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Also for new year we are launching WhatsApp AI version which is in testing phase. You can ask any tax related questions and it would answer perfectly. Stay tuned !
Only two more months to go for 2024.
Miles to go before we rest! Stay tuned at @SaveRightHQ
We are gonna launch our next set of features for new year.
We will solve the tax problem for salaried individuals from the root.
Whoever is in Home loans, Always have a dialogue with the Bank to increase your EMI rather than your tenure. Recently, RBI has mandated to bank to give an option to customer to either increase the EMIs or extend tenure of the loan.
@SaveRightHQ
We @SaveRightHQ app suggests you to optimise your tax in similar ways just enter your CTC or upload your form 16 and watch the magic happen.
Reference Pic from @etwealth magazine. Every week an insightful new case study come up on this. Great work team.
@roshanonline You asked it and we built it for YOU :)
Just upload your form 16 and watch the magic unravel. You will be shocked as to how much you could save more in taxes :)
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