I am currently working remotely for an American startup from India. I recently received my Visa and now have an option to move to US. I also have another job offer on-site in India that I am evaluating.
My question is mostly on taxation and calculating in-hand salary.
Current - 85 lacs base. Working as consultant. Registered GST. I am able to save tax and get to a post tax income of 75 lacs. Savings
New On-Site Indian offer - Base 98 lacs.
My question is, what will be my post tax income while working as an employee in the Indian company.
From what I’ve heard a friend of mine working via TopTel suggested that the effective tax rate is 11% & he can employ his mom, dad, sis, bro to further increase the business expense and pay even lesser taxes. He can purchase things like phones and show depreciation on it & do some other things. 🥲
Possible, but tedious. My question was what happens when you become an employee
You should try and see if they can hire you as a contractor, maybe ask a CA & then you & the CA can approach the HR with this request.
Pros: tax savings, GST deduction scam, parents get salary/PF/insurance from your virtual company 😎 Cons: insurance & other things become expensive for you, contractors are presumably the first ones to get kicked out in economic downturn
Note: I’m a bad financial advisor, speak to a professional CA on these lines.
What’s your tech stack/moat, college tier & YoE. Do you have any advice for us normal folks get to the ~₹1CPA salary jobs?
I am as “normal” as it gets. Tier 1 but not IITs. 10 Years.
Stack — Go, Rust, Typescript. I’ve done quite a bit of work on databases and video technologies (codecs, containers, WebRTC). Lately some work on AI on top of Video.
My take is take as much risk as you can in the early years. I sold a company around 4 years ago. Nothing fancy. We just did video delivery at lower cost coz we ran it on prem rather than cloud.
Ask a CA.
That will be better
My understanding of tax is as good as that of a middle schooler. The question is obvious, for someone who can't levy HRA, LTA or anything else, how do I pay less taxes?
All I can levy, I think is tax free investments up to 1.5lac.
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