Similarly, if someone has a net taxable income of Rs. 15 lakh, then
the tax outgo will increase by Rs. 2,625.
Kuldip Kumar, executive director of tax regulatory services, PWC said that you will have to bear higher
tax outgo every month if you do not revise the declarations soon.
Clearly, this is a killjoy as it will increase
tax outgo and lower disposable income for the said category
Factoring in a more recent inflation number could result in lower
tax outgo.
A good tax plan is one that not only reduces
your tax outgo but also takes you a step closer to your financial goals.