Taxes on short term capital and long term capital are independent of salary. Even if your father earns 0 rs, he will be liable to pay capital gains tax if he is investing in stock markets.

Underrated comment. Make sure the investments are in things like FDs for this to make sense for you.

Product Owner

Consultant

Everything in his name. Just keep yourself as nominee.

Tech Lead

@Misc_ - I would suggest not to complicate things for a few thousand rupees of tax savings. Do it in your name so that you have 100pc ownership of the money.

Get ready when you're facing the IT Investigation Officer: 
  
 Tu jaanta hai mera baap kaun hai?

Sales Manager

https://www.bankbazaar.com/tax/gifting-to-your-family-tax-saving-you-as-well.html 
  
 This should help

Software Developer

I want to use my father’s pan card for investing to save taxes since I come under 30% tax slab.  Would I also need to use his name in account, and what other things I should know before doing this?

Welcome to Personal Finance's Private Community

I want to use my father’s pan card for investing to save taxes since I come under 30% tax slab.

Would I also need to use his name in account, and what other things I should know before doing this?

Fathers PAN Card

Fathers PAN Card- Grapevine

Hi guys , i am a Ux designer and thinking of doing some freelance work on weekends . 
Is this legal to do if i already have a primary job ?

Guys please guide me 
Thanks in advance .
Peace

What comes under moonlighting in india ?

Product Designer

My PG rent is 11x the amount, but the HRA allotted to me from the company side is 17x, if I show 17x in papers, would it cause any trouble to the PG owner, I heard they would get notice. Is it okay to do so, please help here.

HRA - Help Needed

Product Manager

For exploring different investment apps, every app asks to create a new demat account. 
So is it advisable to create multiple accounts under the same PAN? Any issues in future that I might face?

Any way to use groww demat account in zerodha?

Multiple demat accounts from same PAN

It’s my first job I have to start investing pls help

Does investing from mom’s demat helps to save taxes? If mom is a housewife

I just started my first full time job and will be filing ITR for 1st time next year, no one in my family has been in high tax slab previously so not much experience from there :D

Some questions:

- Almost 50% of my base pay is getting used in paying EMIs (Mostly mortgage) of my family, nothing is on my name, all on father's name, is there a way to claim this in deduction ?

- We have our own house in a tier 3 city and I'm getting 30k/month as HRA, what will be safe HRA amount to claim ?

- Can we claim any other expenses in deduction ? Leave travel allowance seems useless to me as I'm working remotely.

- Which tax regime do you prefer ? New or old ?

I could have done investments to save taxes but nothing is left after all the expenses and nothing on my name 😛

Advice needed for filing tax

Software Engineer

For people who lie in the 30% tax bracket, how do you save taxes?

Do you suggest making a dummy rent agreement on your parents name to save HRA? 

Got to know that if monthly rent is more than 50K, the tenant has to pay TDS as well. How do you account for it?

Any suggestions on saving taxes?

Dummy Rent Agreement works?

I paid 4.8L Tax and my CA somehow managed to get back 30k refund. Wanted to know if people here in similar bracket or higher .. Have managed get higher refund.
I chose old slab coz the greytHR portal said I’ll save more in that.
I don’t have a housing loan,
I have shown HRA , insurance and mutual funds

Refund from ITR ?

Guys,
Need your help.
My employer has stated that we need to show cheque /neft transfer details in RENT SLIP,cash payment will not be accepted. I pay via cash only. Any suggestions what to do in this situation?
Keep kicking keep rocking grapeviners!

HRA receipt - employer rejecting cash rent paid

Growth Manager

Hate seeing so much of money go into taxes to this so called goverment. How are ya'll budgeting to save on taxes

For High earners of India only

I am looking to start sip in mutual fund for my kid. 

Am looking for advice whether to do that through my kid’s account ( for which I have to create a new bank account ) or should I use my account ? 

I want to know How much hassle is that to do through kid’s account, is it really worth it? What are there any tax benefits?

Aim is to make the kid future secure financially.

Mutual fund SIP for child

Solution Architect

Government: You owe us money. It's called taxes.

Me: How much do I owe?

Gov't: You have to figure that out.

Me: I just pay what I want?

Gov't: Oh, no we know exactly how much you owe. But you have to guess that number too.

Me: What if I get it wrong?

Gov't: You go to prison !

Lmao (not the OP)

Welcome to Ask Grapeviners's Private Community

What all docs emplyr require to create our PF account...

Documents required by Employer to create PF accounts

Welcome to Software Engineers's Private Community

Can I work as a consultant in a different domain while I'm with another company?

Will consulting have implications if my employer figures out? Also how can my company figure out that I am consulting? Can they check PAN Card details? I’m guessing this is different from moonlighting since I’m not employed at two places. It’s just that I’m consulting 

What's the smart way to go about this? Should I use a different bank account or something?

P.S : The consulting work is in a different domain but mainly just for one company.

Can you consult in another field when you are employed?

It's been close to a year since I am earning a salary and this is what I do:
1. Invest a little less than 30% straight into MFs. I have three ongoing SIPs- small cap, flexicap and a Large + Midcap fund. (Planning to increase the amount further into these and not start a new sip)

2. Max out 80C by putting the entire limit in PPF, this is on top of what is by default deposited into EPF.

3. A little (inconsistently) into direct stocks as and when I find or get to know about a decent trade opportunity.

4. An LIC ULIP plan that my father made me subscribe to 🙂 (hopefully will end in a couple more years)

Tips from experienced folks will be much appreciated.😄

How do you invest your salary?

Backend Engineer

Hello, I started working as SDE at a regular tech firm a few months back. Prior to that I wanted to get into freelancing, even did a few projects.

In the offer letter it's clearly stated that "shouldn't have any other interest in business" and talking around looks like they probably don't want us to have any other sources of income.

I feel confident in few skills that I can more on side, (not greedy need more financial stability)

My Questions
[1] Freelance platforms (fiver, upwork, etc) ask for pan, is it okay if I give my friends/family pan ?
[2] Should I register for a LLP on their name, use that pan everywhere and run the business myself ?
[3] Is it good idea to run it under an alias ?


Any advice / insight / experience would be highly appreciated 🙏

Freelance without company knowing?

Data engineer

Welcome to Indian Startups's Private Community

Looking to understand the new to credit market better to ideate a solution for them. Any research that can help? Also very keen to chat if anyone is thinking about solving for this market too!

New to credit janta

I’ve used a persons PAN and its name for claiming HRA of 12k but it get rejected saying name mismatch and now I don’t have the actual PAN to tally as i’ve relocated. So now can i change to some other landlord’s PAN and Name for the whole year and submit it with 12k claim or new PAN with 8333 as it will be less than 1lac yearly so they won’t verify the name change. What shod i do pls suggest?
Also if I’ll not provide submit any info for HRA will i get the tax rebate for 1 lac yearly?

Fathers PAN Card

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