by DancingDumplingProduct Owner
ITR filing
How are you guys filing ITR? I see I have to pay 19k in taxes. Any tips/suggestions to reduce or go about this?
WobblyKoala
Refund from ITR ?
I paid 4.8L Tax and my CA somehow managed to get back 30k refund. Wanted to know if people here in similar bracket or higher .. Have managed get higher refund. I chose old slab coz the greytHR portal said I’ll save more in that. I don’t have a housing loan, I have shown HRA , insurance and mutual funds
19mo ago
DerpyMochi
PayU19mo
Ur income?
WobblyKoala
Stealth19mo
24 LPA
Declarations: HRA : 90K I live in own house and I can’t show higher rent coz they’ll ask for owners pan and agreement
Insurance and MF I showed around 5L .. I think they allowed only 1.5L from it
I don’t have any dependants to show medical bills.. I have no idea what else I can show to reduce taxes
DerpyMochi
PayU19mo
Invest in NPS 50k. Manage to get a donation certificate so that u can save taxes.
TwirlySushi
Stealth19mo
I have got around 1L in refunds. I have filed ITR through sawingz.com. You can check it out.
DerpyMochi
PayU19mo
Do not blindly believe anyone for tax savings. If any scrutiny rises due to incorrect declaration then you will be liable.
So pls cross check everything before final submission.
SnoozyPotato
Stealth19mo
Check the news, income tax department is coming hard on fake rent receipts and donations this year
WobblyKoala
Stealth19mo
My HRA in salary breakdown is 3L and I showed for ~1L If they do this I’m screwed even more..
I’m saving up for buying a house but it will take a few more years for accumulating the down payment amount..
Then I can show housing loan
SillyBagel
Freelancer19mo
Here is what I claim deductions on - Although my amount is more than actually allowed limit
LIC, Insurance, School Fees , home loan principal under 80cc for 1.5 L Self and parental medical insurance for 60 K NPS (pension plan) 50K Home loan interest 2L Interest earned from savings account 10K
This way, almost 4.2 L Becomes taxfree. Which means I save 1.25 lakhs in taxes under old regime. If you don't have these expenses, only then you should go for New Tax Regime where you will save more.
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Curated from across
by PeppyMarshmallowZepto
Personal Finance20mo
by CosmicBagelAnalyst
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.
Top comment
30% bracket but pay 0% in tax.
Personal Finance10mo
by GoofyWalrusAtlan
Duck the government
Alert: a rant post
Today I saw my payslip after a long time and WTH! I don't know what they'll take once bonus comes in. Paying this much for no water, bad air, corrupt babus and all those douche things.
As much as patriotic I am, ...
Top comments
Earning around 50 lpa at 24 is already a great feat. Still if u want to look at the dark side, nobody can help. This ...
Look on the bright side, you pay more taxes than Adani!
Peak r/humblebrag material.