Key Points
If increments are low, the usual reason assigned by any management is that the company needs to cut costs...
If companies restructure their compensation packages by replacing taxable emoluments with some tax-free perks, they can lower the tax liability of their employees..
Many tax deductions and exemptions are not available under the new tax regime, but certain tax-free allowances can be availed of even under the new regime, says Avinash Godkhindi, Managing Director and CEO of Zaggle Prepaid Ocean Services...
A company can potentially help its employees save about `1 lakh in tax through these tax-efficient options without incurring any cost or adding to the administrative workload, says Sudhir Kaushik, CEO of tax filing portal TaxSpanner..
Though the Section 80CCD(2) option has been there for more than eight years and companies are increasingly opting for this tax-saving opportunity, there are only 19 lakh subscribers under the corporate NPS category..
