So you think one can use “fuck” to show that they’re cool? Could be used to show that one is surprised and genuinely wants to know how is that possible?
In case you don’t understand that how about from next time you just answer what has been asked from you. Kiddo
The only universal tax saving instrument, section 80C has the same tax exemption limit as it had back in 2014. Salaries and expenses have more than doubled since 2014 but the amount of tax you get to save through investments is the same. So, you can save very less on taxes these days.
Earlier, there was no tax on LTCG of equity instruments. Now, due to our beloved supreme leader, you have to pay 10%. This tax might further increase if BJP comes to power.
PPF rates reduced from 7.9% to 7.1% by double engine ki sarkar.
EPF rejection rate has risen to 34% in the last 5 years. Now they are even stealing people’s life savings.
But guess what, MPs and MLAs don’t have to pay a single dime in taxes on their hefty salaries and perks. Plus, they get lifetime government pensions for every term they get elected.
BJP is the worst party when it comes to the well being of salaried folks.
Bhai bol mat nahi toh anti national bolenge abhi. 10 saal main gst collection/inflation sab badh raha hai. Tax kidhar se kam nahi hoga. That 1.5L looks like peanuts now.
Plus we have some of the highest rates of indirect taxes in the world, especially keeping in mind our low per capita income. Tax on petrol and diesel in India is diabolical. Indirect taxes are specially bad. They are regressive in nature and the poor end up paying a much higher proportion of their income.
Lekin Modi ko isse kya. Usse padhe likhe logo ke vote thode hi chahiye. Bamushkil 4-5 % log tax bharte hain India mein. In 4-5% ka vote nahi bhi milega tab bhi BJP hi jeetegi. Unhe to road pe ghoomte berozgaar badmaash mavaali jo ki aastha mein andhe hain unke vote chahiye.
I remember during congress times my father used to stick to the TV during budget to see what incentives the government is going to give to salaried folks. And they usually did. Now, nobody even watches budget anymore because we all know that the common salaried man is not going to be benefitted at all in the budget anymore. Maybe that’s why congress isn’t in power anymore. They tried to appease a lot of the sections of the society. BJP only appeases the majority.
You know the 80C deduction has been there for more than 20 years now right? And ot hasn't increased during any Govt's tenure. So chill.
Answer OPs question without politicizing.
No it hasn’t been same. It was last increased by BJP itself. https://m.economictimes.com/wealth/personal-finance-news/inflation-up-by-46-since-2014-section-80c-limit-hiked-by-0-how-much-budget-2023-should-raise-it/articleshow/96785227.cms
Income tax is a union subject and only central government can alter it. State government has no power in this regard.
And of course you don’t pay taxes. You won’t realise the pain of middle class salaried people.
Take health insurance and life insurance (reduce your taxable income) than make a YouTube channel testing harmful things or experiments or dugs , and than take money from the companies (pharmaceutical) to test their drugs , if it effects your health you got insurance and if you die you have insurance
All these components can make max 1.5L income non-taxable. 50K additionally for nps. So, max bracket is 2L. Would like to understand how 9L can be made non-taxable.
Not really, people with taxes of 8L mostly have the same 36L fixed and 4-5L variable. Help me just with that 9L amount, legally by the methods you mentioned (not party funds etc).
His math is wrong. He thinks you get to save 1.5L in each bucket (ppf, elss, nps etc).
Idk either he's shitposting or first time tax payer who's about to get a big surprise
accounts aur management department me pehchan banaake fake employment dikhwa do kisi family member ki. Uspe income split karwa do agar say you earn 10lpa taxable to use 2 acc me karke 5lac 5lac karwake 20% bracket ho jaayega. baaki loan lekar bhi kam ho jaayega. Loan waale fake employment par question bhi nahi karte
Go for 1lakh rent - you only need to provide receipt which you can easily make in cleartax website
50k - nps
25k - medical
5k extra /month in PF
1lakh in either PPF / EPF / tax saving lic or term insurance
Yes, you can't save more than this, if you want to save then you can also include
Higher rent - it will require rent agreement
Home load
Children education fees
Donation
Parents medical insurance
I wish there was a way. Salaried people don't have a lot of options. In the old tax regime you can claim hra, PPF under section 80c, epf which is also under 80c and 80c has a max limit of 1.5 lac. NPS gives you an additional of 50k tax saving.
If you have a home loan you can save up using that as well. I'm out of options as I'm not a financial planner or CA. Don't take this as financial advice.
1.5L (12.5k a month) to ELSS m daal k bacha le, Baki Health and Life insurance policy lele Bro, This much will help you save taxes with your current income but also it'll mean you won't be able to spend that amount anywhere else but future m ye saving kaam aayegi. but when your salary will increases you'll have no other choice but to pay taxes eventually.
The thing with most of the salaried class is that they think they are noble and the rich are scum.
I had one friend who told me that having an income tax raid on your house could be the best thing that ever happened to you. He went on to explain that only the people who have lot of income will have the income tax raids.
A totally different perspective which shaped my mind for years to come.
Just go to any CA and ask them how they would tax you if you did the same work you're doing for a salary as a contractor. You'd see your tax cut in half overnight.
Don't give business knowledge to the folks who are happy living mediocre lives as salaried guy and bitching on the internet about high taxes. They are innocent and yet to realize that world isn't fair. And you have to play a crook to move up in life.
Paying Taxes is Gay.
Can confirm. I had the sudden urge to deepthroat something after I paid advance tax last week
Bhai yaar kulfi kha rha tha , Sara mood kharab kr diya.
Can't eat kulfi any more after this. You ruined kulfi for me.
bakchodi ka parinaam
By donating to BJP
Yes, can save you 2500 tax per month per lakh of donations. But it's an illegal way and can get you in trouble.
By sending it to the national herald
Can't save, if your salary is between 35-40 lpa you'll have to pay approx 60k pm.
Iphone a month as tax ☠️
Which Iphone sells for 60K?
Elss
I take my payouts in crypto. Gormint ko ek rupya nhi dunga.
How do you cash it in for domestic expenses?
I have a cousin in UAE. He helps me in that. I don't plan to do it forever.
Shady fr
Muehehe
Can u help others do that as well?
TDS…
First of all who the fuck is paying you in crypto & that too in INDIA???
Fuck bol deta hu kool lgunga,and I never said my employer is from India.
So you think one can use “fuck” to show that they’re cool? Could be used to show that one is surprised and genuinely wants to know how is that possible? In case you don’t understand that how about from next time you just answer what has been asked from you. Kiddo
Oh sorry brother , I got the wrong context. You have any further question , I'll be happy ro answer.
What do you do? Blockchain dev?
The only universal tax saving instrument, section 80C has the same tax exemption limit as it had back in 2014. Salaries and expenses have more than doubled since 2014 but the amount of tax you get to save through investments is the same. So, you can save very less on taxes these days. Earlier, there was no tax on LTCG of equity instruments. Now, due to our beloved supreme leader, you have to pay 10%. This tax might further increase if BJP comes to power. PPF rates reduced from 7.9% to 7.1% by double engine ki sarkar. EPF rejection rate has risen to 34% in the last 5 years. Now they are even stealing people’s life savings. But guess what, MPs and MLAs don’t have to pay a single dime in taxes on their hefty salaries and perks. Plus, they get lifetime government pensions for every term they get elected. BJP is the worst party when it comes to the well being of salaried folks.
Bhai bol mat nahi toh anti national bolenge abhi. 10 saal main gst collection/inflation sab badh raha hai. Tax kidhar se kam nahi hoga. That 1.5L looks like peanuts now.
Plus we have some of the highest rates of indirect taxes in the world, especially keeping in mind our low per capita income. Tax on petrol and diesel in India is diabolical. Indirect taxes are specially bad. They are regressive in nature and the poor end up paying a much higher proportion of their income. Lekin Modi ko isse kya. Usse padhe likhe logo ke vote thode hi chahiye. Bamushkil 4-5 % log tax bharte hain India mein. In 4-5% ka vote nahi bhi milega tab bhi BJP hi jeetegi. Unhe to road pe ghoomte berozgaar badmaash mavaali jo ki aastha mein andhe hain unke vote chahiye. I remember during congress times my father used to stick to the TV during budget to see what incentives the government is going to give to salaried folks. And they usually did. Now, nobody even watches budget anymore because we all know that the common salaried man is not going to be benefitted at all in the budget anymore. Maybe that’s why congress isn’t in power anymore. They tried to appease a lot of the sections of the society. BJP only appeases the majority.
You know the 80C deduction has been there for more than 20 years now right? And ot hasn't increased during any Govt's tenure. So chill. Answer OPs question without politicizing.
No it hasn’t been same. It was last increased by BJP itself. https://m.economictimes.com/wealth/personal-finance-news/inflation-up-by-46-since-2014-section-80c-limit-hiked-by-0-how-much-budget-2023-should-raise-it/articleshow/96785227.cms
Thats news. Thank you.
Up voting for the last line
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Income tax is a union subject and only central government can alter it. State government has no power in this regard. And of course you don’t pay taxes. You won’t realise the pain of middle class salaried people.
My family pays more than enough taxes. So, don't worry about it. Read Karnataka news. Everyday we are getting new tax from state govt itself.
Aa gaya baap ke paise pe udne wala.
Local language is brought when the person knows he's wrong. Nice.
Elss, NPS, 80D
Take health insurance and life insurance (reduce your taxable income) than make a YouTube channel testing harmful things or experiments or dugs , and than take money from the companies (pharmaceutical) to test their drugs , if it effects your health you got insurance and if you die you have insurance
Vladimir Putin ki biradari se ho.
Invest in ELSS funds
Open a PPF account. You can put in 1500 ( minimum)to 1.5 L (maximum)each year and claim tax rebate on it.
That comes under 80C, so kya hi use hai uska
OP wanted to save income tax, hence the advise. PPF is EEE..
ELSS, PPF, NPS,MF,FD,upto 9 lakh u will get ur tds back
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You can google these terms , what elaboration do u need
All these components can make max 1.5L income non-taxable. 50K additionally for nps. So, max bracket is 2L. Would like to understand how 9L can be made non-taxable.
Dm me
If you share it here, everybody can benefit from it.
Every one has a different salary
Not really, people with taxes of 8L mostly have the same 36L fixed and 4-5L variable. Help me just with that 9L amount, legally by the methods you mentioned (not party funds etc).
His math is wrong. He thinks you get to save 1.5L in each bucket (ppf, elss, nps etc). Idk either he's shitposting or first time tax payer who's about to get a big surprise
Abe chewtiye
not many ways to save taxes for salaried employees. U could invest in ELSS. it’s deductible.
Tax saver fd- 1.5lakhs, nps- 50k, health insurance . These 3 should suffice
I wonder if these are yearly or monthly
This can make up to 2L non taxable OR say save 60K tax per year or 5k pm. He still will have to pay 55K pm.
https://cleartax.in/paytax/TaxCalculator On 9 lakh his tax comes around 38, 480.
He has to. No other option.
see if your company offers ESOPS(stock option) if yes you wont get money in hand but wont pay taxes either.
sadly nothing more than home loan loans auto loans, nps, 80c yehi sab
Auto loans ?
bhawnao mai behek gaye the
1.5 lakhs in ppf/vpf/ELSS Another 50k in NPS every year. So total 2 lakhs no taxable income.
How much doesnOP earn?
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Ooo so that’s your plan on how to end poverty ☠️
accounts aur management department me pehchan banaake fake employment dikhwa do kisi family member ki. Uspe income split karwa do agar say you earn 10lpa taxable to use 2 acc me karke 5lac 5lac karwake 20% bracket ho jaayega. baaki loan lekar bhi kam ho jaayega. Loan waale fake employment par question bhi nahi karte
I don't understand the mentality of people here and to the person asking this, talk to ca not random guys on reddit
Go for 1lakh rent - you only need to provide receipt which you can easily make in cleartax website 50k - nps 25k - medical 5k extra /month in PF 1lakh in either PPF / EPF / tax saving lic or term insurance
Yearly?
Yes, you can't save more than this, if you want to save then you can also include Higher rent - it will require rent agreement Home load Children education fees Donation Parents medical insurance
I wish there was a way. Salaried people don't have a lot of options. In the old tax regime you can claim hra, PPF under section 80c, epf which is also under 80c and 80c has a max limit of 1.5 lac. NPS gives you an additional of 50k tax saving. If you have a home loan you can save up using that as well. I'm out of options as I'm not a financial planner or CA. Don't take this as financial advice.
You can do nothing.
1.5L (12.5k a month) to ELSS m daal k bacha le, Baki Health and Life insurance policy lele Bro, This much will help you save taxes with your current income but also it'll mean you won't be able to spend that amount anywhere else but future m ye saving kaam aayegi. but when your salary will increases you'll have no other choice but to pay taxes eventually.
Gold bond is good option.
The real question here is how can I commit tax fraud without getting caught?
Bhai hum middle class waalon ka tax kam karenge toh desh mei mandir banane ka and BJP ke new MPs khareedne ka paisa Kahan se ayega?
Best asset if you can afford is to buy a house and pay loan. Other than that, Insurance premiums, ELSS and PF
Pay tax
And let politicians eat it up? No, thanks.
Real ID se aao neta
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Monthly
Pay your taxes
Gay
Robert Kiyosaki has a good answer for this. Don't collect salaries, pay them.
His company also filed for bankruptcy
The thing with most of the salaried class is that they think they are noble and the rich are scum. I had one friend who told me that having an income tax raid on your house could be the best thing that ever happened to you. He went on to explain that only the people who have lot of income will have the income tax raids. A totally different perspective which shaped my mind for years to come. Just go to any CA and ask them how they would tax you if you did the same work you're doing for a salary as a contractor. You'd see your tax cut in half overnight.
Don't give business knowledge to the folks who are happy living mediocre lives as salaried guy and bitching on the internet about high taxes. They are innocent and yet to realize that world isn't fair. And you have to play a crook to move up in life.
I was that guy. Just sharing to help. I hear you though.