How to Avoid Excess TDS on Salary | Tax Thursday | CA Yogesh Katariya



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With the start of the new financial year in April, your company's account department would have sent you an email asking you to submit a declaration of your proposed investments in the coming year to compute taxes on your salary based on the tax regime opted.

You would also have been asked to inform them about the tax regime you are planning to opt for in current FY 2022-23.

Effective from FY 2020-21, a salaried individual has the option to choose between the new tax regime and the old/existing tax regime.
If an individual has opted for the new tax regime, then he/she is not required to submit any document or investment proof to the employer.
On the other hand, if the old or existing tax regime is opted then investment proofs must be submitted before the deadline specified by your employer to avoid higher taxes.

0:12 How to avoid excess TDS on salary
0:36 Lets look at why you should submit proofs?
2:52 Investment proofs
4:31 What if missed deadline for submitting Proofs
6:31 Other Income

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