What are some tax-related aspects that people miss out on their salary slips?
When reading salary slips, people often forget that HRA is taxable if it's availed from the company, but isn't actually paid and LTA is tax-exempt only for domestic travel. Employer's contribution to PF exceeding ₹7.5lakh/year is taxable, and investments in PPF, ELSS or insurance cut taxable income. Salary slips also don't show tax differences under old and new tax regimes.