New Delhi, April 9 -- As the new financial year starts, you might have received an email from HR asking you to choose a tax regime and tax-saving allowances to include in your salary. If your employer offers a flexible salary structure, you can optimise your allowances for tax efficiency.

Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. "The key is ensuring all allowances are properly structured in your salary," he advised.

Minthelps you understand exactly what documen...