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How to commit tax fraud in India(Bharat) ?

Software Developer

How to commit tax fraud in India(Bharat) ?- Grapevine

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

How to pay 0 tax when income is around >= 12 LPA?

Data Scientist

How to save income tax when you for a US based startup and pays you in dollars?

Product Manager

I just want to vent out! Many businesses are earning double than me and paying less than 50% of tax and yet here I am as a professional bound to pay tax. And that’s not enough, I still can get audited!

Paying 29L as tax this year!!

I paid 43L last year. 😤😖 
 It feels like I own every inch of new BLR airport. 😅

Engineering Manager

Consultant

What are the innovative ways to save tax on your salary?

Tax Filing

Welcome to Indian Startups's Private Community

After GoMechanic, now Mojocare is said to cook its books. Is this a trend? and which other companies are showing similar signs?

GoMechanic, Now Mojocare

Content Strategist

Got an email from payroll team that Income Tax dept. has flagged some employees ITR of our org. Seems false claims and deductions. 
Giving one time opportunity to rectify and re file ITR of last 3 years to avoid further action! 

Has this happened to you too or its just me? 
Suggestions? 🥺

Income Tax dept. notified my employer about false claims

Founder’s Office

Welcome to Office Gossip's Private Community

As the title suggests, I'm a lawyer and good at what I do. Haven't got anything better to do, so AMA.

Very happy to assist startups and young businesses as well!

I'm a lawyer; AMA.

Lawyer

Alert: a rant post

Today I saw my payslip after a long time and WTH! I don't know what they'll take once bonus comes in. Paying this much for no water, bad air, corrupt babus and all those douche things.

As much as patriotic I am, this is just insane. On top of this add all the GST and sheet ton of other indirect taxes.

Living in India and paying like Europe. Wow!

Duck the government

Earning around 50 lpa at 24 is already a great feat. Still if u want to look at the dark side, nobody can help. This rant is more common than diabetes. Yet people will stress about same thing and rant to destress. Endless cycle. Either do something about it or bring some new perspective. P.S. I am in alignment with ur rant but I’ve made peace with the state of affairs as I am not looking to move out of India and I cannot strong arm govt. individually to change this.

Senior Product Manager

The vast majority of U.S. billionaires are founders who started companies or heirs who mostly lucked into their fortunes. A tiny subset got hired into jobs t...

How These Billionaires Made Their Wealth Climbing The Corporate Ladder

You don't need to be a founder to make a lot of money

Growth Manager

Bro, you are earning. Shouldn't you just be grateful that you are not born in war torn Afghanistan or disease ridden Africa. I mean life could be so much worse. In fact, the only difference between you and the office boy is the household you were born in. If that office boy was born in your home, he probably would be as successful as you. 

You already won the lottery. Why not just do your part and pay the income tax so that the tax money can be used to provide a better life to those who are unprivileged.

I am not excusing the corruption in the system but just find the cribbing unbearable 

Just be greatful

Why do people keep ranting about income tax

Oh, I thought this must be some smart argument, the moment I read “difference between you & the office boy is the household…”.  
  
 No bro, it’s no so simple. People work hard to make a living. People crib about taxes because some of us are paying ‘first world rates with third world facilities’. Only single digit % of population is bearing the load of rest-of-population. Even corporate tax rates are < Salary tax rates.

What is the fastest way to make money?

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 Moving Abroad's Private Community

I am working as software engineer at FAANG. I pay ~1.25L income tax per month. It pains me a lot. Since being general class male, I never got any benefit from but these govt is looting me. There are many small shopkeeper, landlords, farmers who earn more than me but none of them is paying tax but here I am paying such huge tax like loser. What should I do? Should I move abroad where even though I will still pay 30% tax but still I will have more money than being in India, or should I open a shop like of clothes, or chai?

Should I move abroad?

What are some underrated ways to save tax

Tax saving

Business Development Manager

I see many of my colleagues consulting CAs for ITR filing and getting huge returns. What I gathered from their filings were bogus Health Insurance claims, fake HRA claims etc being utilised for showcasing huge deductions. These filings were done along with ITR 2 to somehow bring down the income.

Can anyone shed light on this practice? Are these legitimate CAs ? Is this not illegal? Don't they get caught ?

Note: This post is not to undermine CAs, but to understand how few CAs are doing this ? And is there really a way to decrease your taxable income, without having legitimate investments in the first place.

CAs and Tax Evasion

Test Engineer

Welcome to News Discussion's Private Community

- Many think advance tax is only for businesses, but individuals with tax liability over Rs 10,000 must pay too.
- The second installment for FY 2024-25 is due on September 15.
- Salaried individuals must consider other incomes like interest and capital gains when estimating tax.
- Advance tax is paid in four installments: June 15, September 15, December 15, and March 15.
- Missing deadlines results in penalties, including 1% interest per month on unpaid amounts. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/personal-finance/advance-tax-pay-your-second-installment-by-september-15-to-avoid-penalties-12821237.html)

How to commit tax fraud in India(Bharat) ?

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