How can you minimise tax deduction and maximise take-home salary?

With these simple suggestions, you can reduce the tax deduction at source by your employer and increase your take-home salary

Negotiating a package for a new employee is never easy as it must be a win-win situation for both - employer and employee. In an effort to maximise the take-home salary every month and minimise the tax outgo, some part of the salary is converted to components which attract tax benefits.

Along with an anticipation to maximise the take-home salary every month, an employee also aims at building a capital and a retirement fund to secure his future. Some part of these investments are taxable whereas some are tax free.

Let us break down the components of a salary package