by GroovyPenguinOracle
Suggestions to save tax ?
I am a software engineer in Bangalore having base CTC 13.8 lpa. Which brings me to a tax of more than a lakh rupees, what are the possible ways to reduce this taxed amount.
QuirkyWaffle
Need Suggestion for saving TAX
Got an offer, I calculated the tax and it will be around 3L ( currently it was around 1.5L) it's crazy, I don't want to pay 25k each month as tax. My Gross will be around: 22L I'm 24, I don't have any health insurance other than the company provided one, no home/education loan. Please suggest how I can reduce tax. (I have already included max 80c, NPS, HRA in my calculation)
4mo ago5.4K5.4K views
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SparklyPotato
Get a term and a health insurance for yourself and parents. Usually company provided health insurance covers bare minimum
QuirkyNugget
Student3mo
Term insurance for 'self' makes sense. Taking health insurance for parents especially when with existing illness -There will be waiting period of at least 2y and premiums are high. Any suggestions?
ZippyMochi
Stealth4mo
Your tax payments will only increase here onwards. Consider self employment or starting up if you want to open an msme and pay minimal tax.
QuirkyWaffle
I get that but for now paying 25k per month seems ludicrous because on investments also pay tax plus on RSUs also. Was looking for advice like should take a home loan or a health insurance to save tax.
JazzyKoala
Ericsson4mo
Try and check if you can join as consultant. You can save a ton of money. But compliance is also complicated.
WigglyTaco
LTIMindtree4mo
Compare and see with new tax regime. I feel you can save more in new tax regime.
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Curated from across
by PerkyNuggetTCS
Tax planning & suggestion in reduction of tax
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 r...
Personal Finance11mo
by MagicalSushiStealth
Ideas to lower income tax
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.
Top comment
Try doing a havan for goddess Laxmi