Percentage of Total CTC did you pay in tax ?
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.
KhattaAngoorrr
Stealth
a year ago
Following
See more comments
15% and even less at a >50LPA salary - be a Contractor instead of an Employee.
yesmonk
Stealth
a year ago
What do you do ?
Wrote the answer at the end - ask to be employed as a Contractor instead of Employee.
See more comments
yesmonk
Stealth
a year ago
How do you pay more than 30%?
See more comments
bellaciao
Stealth
a year ago
Paid 2.8L from my CTC of 22LPA
How's that possible? Can u share how u brought t 2.8 L? I am also at 22lpa ctc but paying 5 lacs as taxes.
bellaciao
Stealth
a year ago
Omg 5 lakhs? Are you sure?
Mine tax filing is done by a CA. They are very well versed with it. When I saw my ITR that they filed, it had some sections termed as “sec(i) xyz” etc and gave deductions for
Food,Telephone,Internet allowance
My gre/toefl exam fee
Full flight tickets fare including of myself & other members in the PNR.
Interest from savings bank
My loss from Paytm stocks 🥲
All the above are apart from hra, lic, mf. So please consult a CA.
See more comments
RadioactiveDino
Stealth
a year ago
0%
Blessed be Section 44ADA
RadioactiveDino
Stealth
a year ago
Suppose I'm a professional like doctor, lawyer, consultant or architect and my income is 15lpa. I'm allowed to deduct business expenses like maybe uniforms, equipment, office rent, conveyance to arrive at taxable income.
I can deduct the whole 15lpa as expenses provided I have receipts of business expense and maintain books of accounts.
Section 44ADA of Income Tax Act allows me to deduct upto 50% if my income is below 50 lpa without providing receipts and maintaining books of accounts.
So from 15lpa, I deduct 50% and arrive at 7.5lpa as my taxable income. I further deduct 1.5lakhs as 80C (PPF, ELSS, NPA). Hence I'm supposed to pay tax on 6lakhs only.
coderx
Student
a year ago
Sadly 30% +
own4g3
Stealth
a year ago
none of you belong to the middle class. please be real.
34% last I checked
It hurts - I wish there was a better way to know how your tax gets used up
Like a dashboard. It’s a basic thought, but it would mean so much given how much we give away.
Watsay49
Stealth
a year ago
1/3rd
everything
Stealth
a year ago
6%
FrontPrey87
Stealth
a year ago
15%
FamousCoil13
Stealth
a year ago
30% bracket