
How are you saving taxes on 1Cr+ income?
If you are salaried and earning 1Cr+, how are you saving on taxes? My net tax burden comes up around 40 lakh every year (and it hurts)
Looking to understand if and how you are able to save on taxes
If you are salaried and earning 1Cr+, how are you saving on taxes? My net tax burden comes up around 40 lakh every year (and it hurts)
Looking to understand if and how you are able to save on taxes
Since you are making 1 cr+ I assume you are on top management team. You could ask them to make you a consultant on paper so that you'll have to pay taxes on only 50% of your income.
I know it's not that easy and not every company agrees to it, but that's the only way for you to save taxes.
Another is political donation, but that also you shouldn't do more than 10L-15L. So it's only gonna save you additional 3-5L.
I'm no expert however, If it all comes from sallary and you are not able to become your own business (claim many things as business expense and base yourself virtually in Estonia) your choices are limited. The biggest deductables are options involve buying a house in a few metros and putting max into tax free investment schemes like PF.
Im just about able to keep my earning below 1 CR and avoid the surcharge by taking stock sku or ESOP (at a 1.5x multiple) in lieu of cash bonus.
Can’t do much on this.
Hurts here as well…. Can’t do much except move to dubai
Decrease your salary to 7 lacs then no tax
Previous landlord was just funneling the money to outside India using wife's account without paying taxes. Being an NRI helps I guess
You just can’t. Just plug-in your AirPods and listen to your favourite track to ease the wound. 🙂
Lo”CASH” it seems like 😛
You cant
Bro run!!!!!