Your take-home pay depends both on your gross salary and how your pay package is planned. You can easily reduce your taxes and raise your take-home pay if you know which perk is taxable and which is not. For instance, which is more advantageous – a medical allowance, a medicare policy or medical reimbursement? In how many ways can you reduce tax on house rent or accommodation allowance? And so on. Here is the complete salary and perquisite planner for both employers and employees by India’s leading taxation expert. Mr. Lakhotia shows how the take-home pay or any employee can be subtantially increased through proper tax planning of salary and perks – without any additional burden on the employer. Do you know the that following perks are tax-free? Books for office’ allowance, Attendant provided by an employer to help you perform official duties, Expenses for maintaining personal office at residence, Medical treatment abroad, Company-paid family holiday, Interest-free loan from your employer.
ABOUT THE AUTHOR R N. Lakhotia
Ram Niwas Lakhotia is one of India's top authorities on taxation and practices as an advocate and tax consultant, specialising in practical tax planning and the drafting of trusts and wills.Starting with a brilliant academic career - Mr Lakhotia was ranked first in both his graduate and post graduate examinations in Commerce - he joined the Indian Revenue Service as an Income Tax Officer, Class I. He again stood first in the whole country in the Income Tax Officers' Examination. Later, he quit the revenue service and launched into a highly successful taxation practice. Spreading the message of tax planning far and wide, Mr Lakhotia has addressed thousands of lecture meetings, symposia, and seminars on tax planning. He has written dozens of books on income tax, which have run to over 470 editions. He has been interviewed over BBC, London, A.I.R., Hong Kong Radio, Zee News TV, Star News TV and Doordarshan. He was conferred an Honorary Degree of Doctor of Taxation by Giani Zail Singh, a former President of India. He is the Founder-President of Income Taxpayers Association and Rajasthani Academy, and the Principal of Lakhotia College of Taxation and Management. He is the President of Indian Vegetarian Congress (Northern Zone), Delhi. Also interested in the spread of practical spirituality and vegetarianism, Mr. Lakhotia has written books on the subject of life improvement, and edits a monthly journal, Excellent Living. In the field of social service, he has constructed a big Dharamshala (rest house) which is used by families of the patients of JLN Hospital, Ajmer. He has served as the District Governor of Lions Clubs International, and was awarded the prestigious Udyog Rattan Award, Samaj Gaurav Award, Samaj Ratna Award and Manav Seva Puraskar.
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