Old regime. Never understood why you need a CA for  salaried folks. We only have limited options to save and most of the info is already available for fee

Assistant Manager

People be upskilling with shit tons of tech stack but don't want to upskill on tax management.  
 I still don't know why salaried folks go to CAs?  
 Pay me the money if you want to file your taxes

How??? How much are you claiming under HRA??

Product Manager

I'm barely making a difference with old regime here at just 20LPA :/

System Engineer

I've been doing my taxes for 5 years. 
 However I'm willing to go to a ca if they help me discover some new ways of tax saving which I'm not utilising rn. 
 Do you think cas can be effective in that ?? 
 Has anyone with a high tax liability able to reduce it coz of a ca ???

Software Developer

Since the tax season is upon us, I wanted to check how do you folks handle tax related things?  1. What are some tricks you use for tax saving? 2. Do you work with a CA or handle taxes yourself? 3....

Welcome to Personal Finance's Private Community

Since the tax season is upon us, I wanted to check how do you folks handle tax related things? 
1. What are some tricks you use for tax saving?
2. Do you work with a CA or handle taxes yourself?
3. For folks having salary>30lpa- which tax regime have you chosen?

How do you handle taxes?

How do you handle taxes?- Grapevine

Welcome to Software Engineers's Private Community

I have always been very intrigued about managing my own finances, never hired a CA till now. 

But every year when the tax return filing time comes I run into the same thought - Am I paying too much taxes, is there a way to plan it better?

wanted to get some information on how are you guys managing your taxes. 

- Do you guys have a dedicated CA? does hiring a CA helps? 

- How do you plan your finances? investing/Saving/restructuring to avoid paying the maximum taxes? 

- Some people setup a side business to set off some recurring losses/expenses to some extent. Does that work in long term? 

- In terms of wealth generation, what is your strategy? How much you are able to invest? What assets are good in your POV?

P.S. - Before someone comes up with you need to pay taxes so India can grow. I understand your POV but IMO, I am not able to get the benefits/infra in return, but I with all my heart believe in India’s growth story.

People with 50L+ taxable income, how are you managing tax planning?

Staff Engineer

People with 50L+ taxable income, how much taxes are you paying? is there a way to reduce that?

How do I find a CA? I tried searching grapevine but could not find any relevant post where how we can find one is mentioned..

Is it beneficial to hire a CA for salary upwards of 30LPA?
Like, can they help me save more tax than the usual 80C/NPS/Medical Insurance savings, I seem to have already maxed them out.
Also if we opt for new tax regime, can CA help in saving additional money?

Any help would be appreciated :)

Tax Saving

Business Analyst

I wasn't doing proper ITR, I was in the family biz for the last 6 years, recently joined a startup and they don't have any proper salary composition. My current salary is 35L in hand (2.9L per month). Apart from HRA how do I save in taxes? is there an app which does it for you?

Taxes 101? 40+ LPA

UX/UI Designer

I am salaried & have opted for new tax regime. I have zero liability (no EMIs, etc). Closed both my home loan & car loan. I live in my own house.

My yearly tax comes out to be around 12 Lakhs. I want to know if there is a scope to save taxes continuing with zero liability. I would not mind appointing a CA but I have no idea how to choose the best CA.
1. How much does a CA charge annually?
2. Is it really worthwhile to have a CA given the above?
3. What are some questions I must ask the prospective CAs so that I can assess their capability?
4. Salaried people that have already appointed a CA can share their experiences.
5. Is there any off-the-shelf ideas I can get here to save taxes?

Need help choosing a CA to save taxes

Software Architect

So this is something that I have been researching for a while, apart from very well known instruments such as-(only mentioning the ones that should be done by everyone irrespective)
* 1.5L annually through 80C
* 50k standard deduction 
* HRA claim
* Donation claims
* Insurance/Medical claims

How are you folks optimising your post tax income?
Would really like to hear it from people getting >= 24 LPA fixed, since from this point onwards a major chunk (almost 20% goes in taxes) and it really hurts.

Tax Savings for 30% slab

Software Engineer

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

How are you saving taxes on 1Cr+ income?

My friend has 53L in cash from his freelancing and other businesses. How can he save taxes on it? We don't know any CA and the ones he met said pay tax in entirety. 

Any suggestions are welcome.

PS: it's NOT a sarcastic post

How to save taxes?

Senior Product Manager

Any tax planning recommendations / tips / third party suggestions for someone earning ~25lpa ?

Tax Planning

I am a software engineer in Bangalore having base CTC 13.8 lpa. Which brings me to a tax of more than a lakh rupees, what are the possible ways to reduce this taxed amount.

Suggestions to save tax ?

Those who are earning more than 50lpa base how much tax do you end up paying? 😶‍🌫️

Tax on 50lpa+

How much taxes can be saved on a 40 lakhs package? I am planning to hire a CA but looking for rough estimates here. I can structure my salary in any way I want and can invest in all schemes except housing loans.

Performance Marketer

Are there any legit ways to save tax once you cross that salary where saving from 80c, 80d is not of much use? I know home loan is one option but are there better ways?

How do you save tax?

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?

Welcome to Product Managers's Private Community

I want to understand if you are also satisfied with your compensation?

How much do you really earn? Honest Answers Please 🙏

2.4 lakhs/month. 
      
 Not a developer. 
 Not in Tier 1 city.  
 Not in FAANG or whatever it’s called now. 
 No loans or EMIs for now. 
  
 Married to my GF of six years. She earns 1.3 lakhs/month. 
  
 Guess, I could say I am extremely satisfied.

CTC - 21.5 lpa
Fixed - 16 lpa
Joining Bonus - 4 
Relocation - 1.5 

Also tell me which regime to follow and how to save tax

How do you handle taxes?

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