Invest every month, you won’t need to remember anything

Product Manager

How do you folks go about remembering what to do when with regards to basics of tax planning ?   Things like using all the various tax exemption levers LTCG,investing in 80C etc   PS:Noob alert !

Welcome to Personal Finance's Private Community

How do you folks go about remembering what to do when with regards to basics of tax planning ? 

Things like using all the various tax exemption levers LTCG,investing in 80C etc 

PS:Noob alert !

Struggling with personal finance discipline!

Strategy & Operations

Struggling with personal finance discipline!- Grapevine

Hey grapevine, I am new to financing, just completed 1yr as software developer in India.
Please share some tips/suggestions regarding savings, tax exemption benefits, how to plan, old vs new tax regime.
Thanks 😁

Beginning of personal finance management journey

Software Developer

Welcome to Software Engineers's Private Community

I have always been very intrigued about managing my own finances, never hired a CA till now. 

But every year when the tax return filing time comes I run into the same thought - Am I paying too much taxes, is there a way to plan it better?

wanted to get some information on how are you guys managing your taxes. 

- Do you guys have a dedicated CA? does hiring a CA helps? 

- How do you plan your finances? investing/Saving/restructuring to avoid paying the maximum taxes? 

- Some people setup a side business to set off some recurring losses/expenses to some extent. Does that work in long term? 

- In terms of wealth generation, what is your strategy? How much you are able to invest? What assets are good in your POV?

P.S. - Before someone comes up with you need to pay taxes so India can grow. I understand your POV but IMO, I am not able to get the benefits/infra in return, but I with all my heart believe in India’s growth story.

People with 50L+ taxable income, how are you managing tax planning?

Staff Engineer

People with 50L+ taxable income, how much taxes are you paying? is there a way to reduce that?

Heyy folks, will be highly thankful for any clue. I am entering LTCG of just 59K, and yet ITR starts charging 20% tax on it. I have already tried entering it in different-different sections, but nothing worked. Now, I am thinking to delete the current saved form and start all over again, just in case it is some temporary issue on their side with their serve side caching? Where exactly the LTCG needs to be entered that, that 1 lakh exemption is obtained?

ITR Help needed- LTCG being taxed?

Software Engineer

I wasn't doing proper ITR, I was in the family biz for the last 6 years, recently joined a startup and they don't have any proper salary composition. My current salary is 35L in hand (2.9L per month). Apart from HRA how do I save in taxes? is there an app which does it for you?

Taxes 101? 40+ LPA

UX/UI Designer

Since the tax season is upon us, I wanted to check how do you folks handle tax related things? 
1. What are some tricks you use for tax saving?
2. Do you work with a CA or handle taxes yourself?
3. For folks having salary>30lpa- which tax regime have you chosen?

How do you handle taxes?

Anyone here makes 1CR+ and does their own taxes? How do you avoid paying too much money. Have you maximized your donation and investment game? 

Any advice welcome.

1 CR+ tax advice

Product Owner

I am joining new org with 17LPA, I just got to know that my tax slab will be 30%. I never had to think about it for last 2 years because i was with 3.75LPA since 2 years when my career began. How should i start to reduce my taxable income? I watched various yt videos and spoke to some close acquaintances but im not able to understand how to proceed

How to save money on taxation?

how much would the net monthly take home be? how can i arrive at the final number myself? pls consider the old tax regime and standard 80c deductions; i also have a student loan worth 17-18 L @10% (i think i can get some deduction on tax on it)

net monthly takehome

Quantitative Research

Welcome to IT Company Discussion's Private Community

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 rented house with 16k rent, Paying around 20k+ TDS. Where can I save? 

Plan me with total take home per month & tax regime to opt ?

Tax planning & suggestion in reduction of tax

System Administrator

To a relatively new adult, what financial advice(s) would you give on how to and where to invest my money?

Looking for some Financial advice

Application Engineer

Hello all, so I'm a student still, I'll would be joining a company soon and I want to learn about what all tax systems we have and how do I manage them, I want to do them myself in future, where do I learn and what all should I be aware of to save as much as I can?

To start with, I come under 30% bracket, basic salary is about 50% of my base, HRA being 20%, PF 6% and Flexible 24%. I don't have any loans on my name and I'll have to live on rent. I'm also curious on which sections could I be saving and how.

New to Tax

Wanted to know how people are managing their investments? I’m facing below issues while managing
 
1.  How to diversified fund? whats are % of allocations 
2.  How to rebalancing the mutual funds and stocks time to time 
3. Investment on Foreign equities 

If you are managing by own please share your plan and approach or if you are taking help of any financial advisors do share their details also. 

Any help would be much appreciated! Thanks.

Struggling with personal finances

Tech Lead

I'm a fresh grad who started his job. Can someone suggest how can I start with my investments. Like where to study and how to proceed. I'm too confused about everyone talking about financials and I don't understand at all (I'm from a non financial background).

Any advice will be very helpful.

Thanks in advance

Advice on personal finance

Data Scientist

So I am going to come in a tax slab from next month, probably will make 80k+ per month. In this case where I should invest for my future safety. As I am only male child of my parents, so it's my responsibility to earn and save so that I could bring happiness in their life.

Please guide me from your personal experience and challenges that you gone through in your past.

How to invest and save taxes

Test Engineer

Any tax planning recommendations / tips / third party suggestions for someone earning ~25lpa ?

Tax Planning

I have 7 years of work experience and to this day I don't know how to do my taxes and no clue about investing, how do I start learning? Where do I start? My friends made fun of me today but I know for the fact they are just as useless so just laughed it off

Taxes and investment

Consultant

I want to learn Startup Finance for my startup. Things like invoicing, GST, Claiming GST, TDS, TCS, Taxation, ITR, Fundraising, Schemes related to Startups, etc 
Any resources or suggestions are appreciated. 
Thanks 🙏

Struggling with personal finance discipline!

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