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High Take Home, Low Investment: How Can I Save More?

T S Khurana |421 Answers |Ask -Follow

Tax Expert - Answered on Feb 26, 2025

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Asked by Anonymous - Dec 29, 2024Hindi

Money

Sir, MY take home salary is ?82k x 12. Payslip mentioned gross salary as ?14lakh. I invest alongwith employer in NPS Tier I ?142000/-, ?150000 in PPF, ?50K additional in NPS 1 under 80CCD1B. I have no insurance, term plan. However, I invested ?1.5 Lakh in MF, Stocks. total deductions available is ?3.5 Lakh under old tax regime. I live in Employer provided Home. Hence, not receiving any HRA. Kindly tell other ways to get deduction or to save more under old tax regime. I have my wife, 1 girl, 1 boy and my parents in my family.

Ans: 01. You have planned your income & tax savings nicely. Other options available are Medi-Claim Policy u/s 80-D (if not getting Medical benefits from your employer), Donations u/s 80-G & Interest payment on Housing Loan, if any.
02. Please calculate your tax in New Regime also & go for the option, where your tax liability is less.
03. I feel new Tax Regime, may offer less tax payment.
Most welcome for any further clarifications. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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If my PF is not deducted after 58 years, then how will I get my PF and CTC amount

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Question by Abhijit - Mar 20, 2025Hindi

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Ans: It may be more appropriate, if you have two MF Accounts, one in your name & the other in your mother's name. You can handle both accounts your self, may be online.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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