In my previous post on Tax Savings, we discussed How Allowances can help in Tax Savings. In this post, we will discuss Perquisites and Tax Savings. Perquisite is non-cash benefit given to employee by the employer in addition to salary. This benefit is normally attached to employee's designation. Some perquisites are across the board, example food coupons. An intelligent mix of allowances and perquisites in the CTC (Cost to Company) can help in effective tax savings of upto 25%. In my opinion, these 2 components are low lying fruits which leave more money in the hands of a salaried employee for ... Read More
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