What is there to manage?. taxes are deducted and then they  give me the balance as salary. Nirmala takes her big share first and the rest  each and every time i spend. 
Its not like i have much say in this.

Product Manager

Salaried people have limited scope in tax planning. Beyond the standard 4/5 sections there isn't much one can do. 
For business people that a different story.

Consultant

Hi guys, just wanted to ask how are you managing your taxes?

Welcome to Personal Finance's Private Community

Let's talk about taxes

Let's talk about taxes- Grapevine

Welcome to Software Engineers's Private Community

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.

People with 50L+ taxable income, how are you managing tax planning?

Staff Engineer

People with 50L+ taxable income, how much taxes are you paying? is there a way to reduce that?

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?

How do you handle taxes?

Guys... I made some good decisions and ended up having an opportunity to pay myself 36 LPA but, that means, about 9.4LPA tax.

What do I do? I want to get a home loan so keeping a higher salary would make the banks happy but then I also lose almost half of it to taxes.

Any advice from high earners and other fellow startup founders?

Tax 😨😨😱

Founder

How are you guys filing the tax? What are the best methods to save tax? If you know  auditor/CA or any other groups that does the best savings plan for you, please let me know

IT Filing

Software Engineer

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 Ask Grapeviners's Private Community

Hi all,

I am a software engineer Off lately everything has become so costly and it feels that we are paying almost thrice than we used to pay 4-5 years back.

And to add to that, with UPI transactions, sometimes I lost track of where my money is actually going.

Does that happen to you all?
How do you manage?

Is paying taxes for everything in India affecting you? How do you manage?

Software Developer

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 will go first:

TC - 18 LPA
Paid Advanced Tax - 40k (final tax will be lesser)

What's your TC and how much tax did you pay?

If you are an over performer and doing great work at your company, I request you to also start working for yourself. You have no idea how much you can make just working directly for clients.

For all the rockstars at work

Welcome to IT Company Discussion's Private Community

Any thoughts on career transition from full time at big companies to freelancer? 

I have 5.7 years of exp of FSE. and would like to settle as freelancer in near future. 
I want to experiment this option for 1 year and if not succeeded is it okay to switch back to full time emp? Is it worth taking the risk considering my financial status? 

I see these are pros and cons
Pros:
Complete wfh.
Direct contact with clients no boss/manager

Cons:
Income will be effected if no project. 
Continuous search for projects. 
Risky. 

Any other pros and cons one can think of pls mention in the comments. I would definitely try this option for atleast one year.

Transition to Freelancer in India.

Hello all, so I'm a student still, I'll would be joining a company soon and I want to learn about what all tax systems we have and how do I manage them, I want to do them myself in future, where do I learn and what all should I be aware of to save as much as I can?

To start with, I come under 30% bracket, basic salary is about 50% of my base, HRA being 20%, PF 6% and Flexible 24%. I don't have any loans on my name and I'll have to live on rent. I'm also curious on which sections could I be saving and how.

New to Tax

How do you folks go about remembering what to do when with regards to basics of tax planning ? 

Things like using all the various tax exemption levers LTCG,investing in 80C etc 

PS:Noob alert !

Struggling with personal finance discipline!

Strategy & Operations

Hello community, 

I wanted to know how you guys manage your money? Like those with 10+ years of experience having more than 20 30 lakhs, what do you do with that money? 
Do you invest, put the money in the bank. And how do you feel safe about it.

Recently, one of my neighbors' bank accounts got freezed out of nowhere, thus the ask.

Would love to know about how you guys handle big chunks of money.

Managing Money

Anyone here makes 1CR+ and does their own taxes? How do you avoid paying too much money. Have you maximized your donation and investment game? 

Any advice welcome.

1 CR+ tax advice

Product Owner

I wasn't doing proper ITR, I was in the family biz for the last 6 years, recently joined a startup and they don't have any proper salary composition. My current salary is 35L in hand (2.9L per month). Apart from HRA how do I save in taxes? is there an app which does it for you?

Taxes 101? 40+ LPA

UX/UI Designer

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

How to save taxes?

Senior Product Manager

I wanted to check up on the fact whether i am doing things correctly to save taxes or not and below is the details for the same.
Gross Salary - 3,30,000/Month
PF Contribution - 16,000/Month
Income Tax - 75,175/Month
Net pay - 2,38,000/Month

If i can save more taxes, how should i proceed furter assuming it's my first job and I've got little zero idea about anything around personal finances and taxes.

Let's talk about taxes

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