1 CR+ tax advice
Anyone here makes 1CR+ and does their own taxes? How do you avoid paying too much money. Have you maximized your donation and investment game? Any advice welcome.
If salaried start taking salary to your proprietorship at this stage you can demand that from the company.
Investment deploy capital to a hedge fund / VC you can access the beta.
Tax saving just buy art and donate it to your own NGO govt observes but you’ll be safe if you have good connections
Jordon Gabriel
Stealth
2 years ago
Buy political party bonds.. tricky but can invest upto 80% of your salary
This is akin to donation, right?
If I earn 100, at 30% tax, I save 70.
If I donate 10, tax on 90 @ 30% is 27, i am left with 100-10-27= 63. Worse off than simply paying tax.
I think donation is helpful from taxation aspect, only if tax slab changes to a beneficial one.
Am I missing anything?
Are there (investment like) returns associated with electoral bonds?
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Kalan Everett
Stealth
2 years ago
Salaried can't do anything. Just pay taxes!!
Isaiah Carmden
Stealth
2 years ago
+1 to this, have been paying crazy taxes from last 3 years after crossing that mark
Isaiah Carmden
Stealth
2 years ago
Do you file your own taxes or get a CAs help?
The biggest advice my CA gave me was around HRA; if you have family owning any property in same city as your workplace then you can show high amount of rent, balancing out their income to be under 10 lakhs & reducing your taxable income by a significant amount (this is only applicable if you don’t own a home already in that city)
Other than that there isn’t much that can be done tbh
Jordon Lee
Stealth
2 years ago
Which job at zepto compensating 1cr?
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