IT Filing

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.

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

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.

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 :)

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

For US based company's employees which provide stocks - How do you file your income tax ? 1. Do you declare your foreign stocks in ITR ? 2. Do you do self filing ? Or use online tax filing websites ? 3. Do you take services of a CA ? I'm looking for best way to do it with minimal involvement from my side. Please add service charges by websites/CA in your response as well. PS - This is my first financial year where I hold foreign stocks. Looking for guidance. Thanks.

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?

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?

Has anyone tried using HUF for saving taxes on investments? Could you share your experience and how else has it been useful to you?