Iski sakal dekh k hi gussa aajata hai. 😡

General Manager

Tech Lead

Who all want her to know she hasn’t done well yet?

Usko khud pata hai bhai. She lied in her resume. 😅

Strategy & Operations

Income Tax

Finance Operations

Income Tax- Grapevine

Welcome to Banking & Finance's Private Community

Salaried people are the biggest fools in this country.  Am starting to feel politicians are hell bent to run this country into ground. 

Rice exported in last fiscal was USD 164bill. ZERO TAX.
Poor farmers are the biggest myth in this country. Probably after Gandhi got us ndependence.

https://x.com/Track_trader/status/1819529700580225389

Income tax

Consultant

Welcome to Personal Finance's Private Community

ITR Filing: Thanks to the influx of visitors, the portal reportedly is currently facing operational issues during the peak hours. A number of taxpayers have expressed their inconvenience on X platform.

Income Tax Returns: Taxpayers find it too ‘taxing’ to file ITR online on e-filing portal even as July 31 deadline nears | Mint

IT Return Filing too Taxing

Actuarial Associate

Welcome to News Discussion's Private Community

Technical Lead

Indian Taxpayer

Taxation

B.com degree 
I'm interested to doing job in this company 
I'm pursuing CMA US 
I know about taxation and tally 
I'm interestn Accountnacy and finance

Product Manager

"Hey there! People here are busy expressing themselves, so i wanted to remind everyone about the income tax filing, and make this year your best yet, 
I've got the expertise you need

Let me help you out to complete the ITR filings. Sound good?

To connect email us : Contact@avtaxes.in

INCOME TAX FILINGD

Chartered Accountant

Warning: This is a lengthy post. 

Filed some salaried ITRs during this tax period. Following are some of the common mistakes which can be avoided

1. If you have changed jobs ensure that income from previous job is disclosed to the current employer and TDS gets deducted correctly. One basic check you can do is the TDS deductions made by new employer should not be lesser than monthly deductions done by your previous employer unless you have lower CTC compared to your previous job or have additional deductions.

2. During Feb/March take your bank statement, trading account statement and declare the income from capital gains, dividends and interest to your employer, so TDS can be deducted accordingly. Helps in avoiding surprise cash outflow in July and saves from paying interest @ 1% per month on this tax

3. If you have ESOPs/RSU from Foreign Companies this should be disclosed in Foreign Assets and liabilities schedule. Some employers would have opened bank accounts in that country to settle your ESOP transactions. This is also required to be disclosed under foreign bank accounts. If the ESOPs and RSUs are from unlisted Companies then it also has to be disclosed under unlisted shares held. Additionally if you are Indian resident as per the Income tax law (most of you will be) your global income becomes taxable and any dividend received on these ESOPs or capital gain on sale of ESOPs of foreign Companies has to be offered to tax. However, if there are taxes deducted on these transactions the same can be claimed by filing Form 67.

4. For current year if you are in salary bracket above 20 lakhs then new regime will be beneficial mostly unless you have housing loan interest  from Self occupied property. Under new regime Employer contribution to NPS up to 10% of basic salary can be claimed as exemption.

5. Get a good consultant today itself and plan the your finances accordingly. In case of salaried individuals there are very less avenues to save tax after March

Just want to get inputs from those who freelance along with being salaried. I am wondering how people do ITR filing when they’re directly receiving payment from their clients abroad (inward remittance) on their own name (no company created for offering ur service) as well as have their monthly salary ? As much as I’ve read you would be filing ITR-4 but then wouldn’t this reveal to ur current or next employer that u worked 2 places?
Really curious to know as it’s ITR filing time.

Wouldn’t ITR be a mess for salaried employee who also freelances?

Software Engineer

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

Govt of India is best at killing Middle Class. What percentage of your total CTC did you pay in tax. Income Tax department id the new Sahukar.

Percentage of Total CTC did you pay in tax ?

Analyst

Welcome to Software Engineers's Private Community

Losing motivation to work in India because of 30% TDS and nothing on return .

Income tax sucks

Software Developer

https://twitter.com/news24tvchannel/status/1681252631673556992?s=20

Tax paid on Income

I'm thinking of going with the new regime and I'm really dumb with deductions.

From what I've read, other than the Employer's contribution to EPF, everything falls under taxable income.

Post Tax in-hand monthly salary ka koi idea?

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

Data Scientist

I filed ITR yesterday via ClearTax. It was super smooth unlike the experience I had two years back. Had to pay 1.6k as it was classified as ITR3.

It automatically pulled data from Savings bank / FD interest details and from Groww. So had no manual entry in any step. Finally had to pay unlike last time (even for the unassisted process) and then even the step in IT portal was done automatically (via the APIs)

Overall, it went well and I could file in about 20 min.

Just wondering if it's all good or should I be worried if anything went wrong? Should I get a second review from any CA?

Note: I had to pay about 12k tax which CT calculated and I have paid the same.

Filing ITR via ClearTax

In India people who are earning beyond 70 lpa. They tend to fall under the high tax bracket which involves surcharge on tax too. Which could level up their tax too.
Now is this tax worth it when compared to what tax payers get from the govt?
Total tax % could really be higher for an individual. Given the tax %, would it be wise to consider moving out from India for better value for tax?
Now this tax is considering after exhausting all the tax savings sections and FBPs except the political donations.
Genuine answers only. 
Coming days I would be asking a few more tax related questions.

Income Tax

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