Product Manager

Software Engineer

First of all  We need a catchy phrase for Tax, because tax or TDS is too middle class. Let's say DGT  Direct Government Taxes.   For example, if you're getting a 30% hike, we must say hike of 20% +...

Welcome to IT Company Discussion's Private Community

First of all - We need a catchy phrase for Tax, because tax or TDS is too middle class. Let's say DGT - Direct Government Taxes. 

For example, if you're getting a 30% hike, we must say hike of 20% + DGT. 

Same way, your salary of 30LPA should be announced as 20LPA + DGT. Assume everyone has 7LPA income from ancestral FDs and rents and other stuff, and everyone is in 30% tax bracket by default. 

WDYT?

Let's start normalising CTC excluding TDS

Let's start normalising CTC excluding TDS- Grapevine

Welcome to Personal Finance's Private Community

- No changes in old regime.
- No tax reliefs.
- No changes in 80C
- Increased STCG and LTCG for stock and MF investments.

They increased the standard deduction in new regime from 50k to 75k and called it as "a tax relief to middle class"

Union Budget 2024 (aka) How to screw middle class? 🤷🏻

Analyst

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 ?

What is wrong with these colleges, hearing this for the first time.

Thoughts? Colleges asking for a fee to get placed? Damn that’s a new low. 😔🫠

Current CTC - 10 Lakhs
New CTC - 20 Lakhs

Is this 100% hike?

May NOT be.

What if 20 Lakhs includes a 20% bonus (not in the previous CTC)?
What if 20 Lakhs includes 2 Lakhs of ESOPs (not in the previous CTC)?
What if 20 Lakhs includes allowances that are useless (not in the previous CTC)?

******

The term “CTC” is NO less than a SCAM in India.

I don’t know any other countries that use the term “CTC”, do you?

And that’s why in India, 
Your in-hand salary will always be MUCH lower than CTC, 100% always.

Let me repeat:
“Cost to company” is NOT equal to “Your Income”.

There is always a leakage. 

********

Companies will NOT change this practice in India.

But YOU can, so:

-STOP asking what my CTC is going to be?
-START asking what my “TAKE HOME” is going to be?

TAKE HOME matters the MOST!!

#copied

CTC vs Take Home

Program Manager

What amount of tax will be deducted monthly for a CTC of 40LPA in India? Work location - Chennai.

Monthly tax for a CTC of 40LPA?

Senior Consultant

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

Hi, I wanted to take community's advice on tax saving suggestions to opt for and plan my investments. This is what I have:

CTC: 21L ( 19L Fixed , 2L variable pay  in CTC )

80C is covered, Currently I have 50L home loans. & Staying in rented house with 16k rent, Paying around 20k+ TDS. Where can I save? 

Plan me with total take home per month & tax regime to opt ?

Tax planning & suggestion in reduction of tax

System Administrator

Just tell me kitna tax bharne wale ho....

Tell me what you earn without telling me what you earn!

It’s so painful to see the amount of money I end up paying on the name of tax. Presently doing  - 1.5L of LIC and pf + 50k NPS + HRA. What else can be done? My CTC is 55LPA.

Ideas to lower income tax

Hi 

Just wanted to know if someone’s CTC is 8.5 LPA what Regime would be beneficial and why?

Tax Regimes

Assistant 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.

Software Developer

Can someone share in detail how can I invest in US Stock Market from India, what would be the remmitance charges and what are the tax implications, other things to keep in mind l, etc etc..

Investing in US Stock Market

Sales

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

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+

Welcome to Office Gossip's Private Community

Don’t you think it’s kinda not fair to tax people especially in metro cities who earn less than a lakh a month. The cost of living in these places are already so high and due to that they may not even be able to make any investments. 12 Lakh kinda sets a good entry level for taxes as 1 Lakh is a decent amount to live by I guess. 


Just looking to hear opinions on why it would not be beneficial that’s all. Not willing to hear or respond to any SJWs who want to act all high and mighty on the internet.

Should the tax slabs start at 12 LPA?

Hey guys,

I am a fresher, will be joining SAP LABS INDIA soon. I was offered stock options worth 8.4L over 4 years. I have been looking for vesting period details but not much info is available online. If someone here knows about it, please share the details. Thanks!!

(Lol, Trying out hashtags, idk if it works or not, let's see)
#SAP #SAPLABS #STOCKS #Bangalore #Salary

SAP Labs STOCKS

Welcome to Indian Startups's Private Community

I recently received an offer from a early stage startup. But they told that that pay in contractual basis. when asked about the reason they told that it helps the company and employees to save tax.

How does it work?
will it affect my future employment if I take this job? like if I join some other company will they accept that I was actually working fulltime.

The role is fulltime, but only the money transaction will happen as contractual.

Let's start normalising CTC excluding TDS

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