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 the current FY 2022-23. This means you have a choice to make. You can opt for the old tax regime or the new tax regime. In the old tax regime, where you don’t claim any deductions, your entire salary income will be taxed as per the applicable slab rate. In the new tax regime, however, you can claim deductions on investments made in specified tax-saving instruments. This helps in reducing your tax liability considerably. Another way of avoiding excess TDS on your salary is to make sure you submit all the valid exemptions/deductions to your employer in time. This will ensure that the TDS deducted from your salary is calculated based...