Indian Taxpayer

Consultant

Indian Taxpayer- Grapevine

Welcome to Personal Finance's Private Community

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

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?

Software Engineer

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

Now it is fetching your savings account, fixed deposits, mutual funds, stocks everything. Earlier these details were not fetched and we could just hide those earrings from the IT portal to pay less tax. Now we need to pay those extra tax too 😡 this year I had to pay 17k extra tax due to this.

Income tax portal has become too advanced

Lead Consultant

Welcome to News Discussion's Private Community

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime.

The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc.
But when and how  are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place

https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

Inept income tax dept

Seems like since last year the focus of government has shifted from actually making beneficial policies to enable innovation and growth of India to just collecting taxes blindly. 

They just want to harvest tax in as many ways possible and kill the middle class person.

First it was crypto. 

Then us salaried individuals started receiving notices. 

Then they levied 28% GST on online gaming. 

Now they are also checking proofs for HRA allowance and other stupid stuff which wasn't done before. 

I was wondering why there is a sudden increase in such incidents? Is the government hiding something? Are they running out of money?

Or are they just smoking weed just like us and making stupid rules?

Nirmala tai is looting us

This government’s primary intention is to collect more and more taxes in whatever mean’s possible. They don’t give a f**k about anything. And then will brag every month/quarter about record GST collection! This government is pathetic to say the least! No accountability and arrogance is at its peak. We have come to a point where we can’t even question the government otherwise you will be termed as anti national.

Welcome to Software Engineers's Private Community

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

Tax on 50lpa+

https://www.linkedin.com/posts/connectwithrahuljain_income-tax-india-activity-7208333905001672705-2d0g

Dude posts about tax burden on Indians, gets homework assigned

Founder

Welcome to Business Roles's Private Community

I still can’t comprehend the tax system in India. We pay almost 30-33% tax to govt n pay gst of 10-18% on every product that we buy n not to forget exercise duty on petrol/ diesel. What do we get back in return? Health insurance nope! Free education nope! Not even decent interest rates on loans and any political party is just an other party which loots people in the name of democracy. 

                   My neighbour is a fruit vendor who holds multiple stalls but never heard him paying tax. Whats the way forward as no political party pays heed and only handful pays the tax.

Every rupee out of three but truth is 50:50:

Time to pay more tax

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

Its really sad to see that taxpayers are the most neglected minority

Data engineer

IT department sending moonlight notices apparently 

https://twitter.com/ravisutanjani/status/1689301324158930945?s=46&t=-Y8gJsKWsnMPnWZzk9ilMQ

Careful if you’re a moonlighter

Product Head

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

I was doing a tax plan for the next FY. 

A significant chunk is going off my hard earned money 😔 for which I get 🔔 from govt. 

I hardly use any public facilities , or can simply  say they do not exist and are not up to mark 

Any Tom and harry comes and starts  freebies for his noble cause of votes which tax payers like me are not eligible to be benefitted  even if I want to take any . 

Why the heck I have been taxed so much . 

Even if you get variable pay this month which was already taxed with TDS and If I invest in MF lumpsum  and get some gains . The whole amount will again be taxed that too according to my tax bracket .

Although I am not considering indirect taxation which is another curse we all are facing . 

Is everyone pissed with this tax story or simply ignore and move on to pay more tax and grind more .

Indian Taxpayer

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