Personal Finance Community

by 99bytes

Stealth

a year ago

Need help choosing a CA to save taxes

I am salaried & have opted for new tax regime. I have zero liability (no EMIs, etc). Closed both my home loan & car loan. I live in my own house. My yearly tax comes out to be around 12 Lakhs. I want to know if there is a scope to save taxes continuing with zero liability. I would not mind appointing a CA but I have no idea how to choose the best CA. 1. How much does a CA charge annually? 2. Is it really worthwhile to have a CA given the above? 3. What are some questions I must ask the prospective CAs so that I can assess their capability? 4. Salaried people that have already appointed a CA can share their experiences. 5. Is there any off-the-shelf ideas I can get here to save taxes?

ElonTusk

Startup

a year ago

12Ls in taxes wow! Don't you feel sad paying so much tax? I pay less than 10% tax on my salary and I'm way higher in the 30% tax bracket. Bro pay me 1L, I'll save you lots of tax.

Rodriguez

Stealth

a year ago

How is this possible? Can you share a connect option?

potatomato

Fintech Startup

a year ago

*knock knock* Tax department *open up*

See more comments

Rodriguez

Stealth

a year ago

+1 for everything above except staying at own home.

Tempo

Google

a year ago

It's not worth appointing a CA if you are a salaried employee. There are very few avenues to save taxes and you can learn them on your own.

99bytes

Stealth

a year ago

Thank you. Appreciate your comments here.

BareLog99

Amazon

a year ago

Usually there are very limited or no options to save tax if you have opted for new tax regime. So ideally its better if you keep it the way it is. Ideally the CA would help you in filling in your ITR and giving some investment tips for you. New regime is already simple and i don’t think would need a CA

99bytes

Stealth

a year ago

Thank you. Appreciate your comments here.

Bereal

Stealth

a year ago

There are many ideas, some straightforward some a little bent. Depends how you want to do it. Consult with a CA first instead of hiring one. Please note that any off the shelf idea will get you have a lot of cash in hand out of your bank account.

AntonKriel

Stealth

a year ago

There are many 1-2 cr+ earners on graveyard. Request them to do the honour.

Blade

Stealth

a year ago

Paying above 25L from salary. Help!

Toph56

Stealth

a year ago

Have been frustrated by this problem so much now that I think I should quit and start something here. 😅😅😅

Stillgrowing

Unemployed

a year ago

Had taken services from Cleartax before and they had helped me in saving some taxes. But not much. I am not sure how much of help they would be

BullyMaguire

Stealth

a year ago

Paying 12L in taxes in new regime? I know you cant switch to old one but it saves more tax for high earners.

furious

Stealth

a year ago

Following