I was claiming 4.5 lakhs tax deduction - 1.5 lakhs 80C, 2 lakhs Home loan interest, 50k NPS, 50k 80D. Now tax calculator is showing new tax is better based on the recent changes announced by finance minister.

Project Manager

If home loan is more or HRA is more 
 Then old will be better

Software Developer

Welcome to Personal Finance's Private Community

Surprise to see that new tax regime is better even with home loan deduction.

Surprise to see that new tax regime is better even with home loan deduction.- Grapevine

Welcome to IT Company Discussion's Private Community

Guys my ctc is 8.5 LPA could you please suggest which tax regime is best.. Assume I won't be taking any tax deductions.

Which regime is best best?

Consultant

For a salaried employee ranging from 10 lpa to 17 lpa, which tax regime would you suggest for? Old vs. New?

Old vs New tax regime

Product Owner

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, this is just insane. On top of this add all the GST and sheet ton of other indirect taxes.

Living in India and paying like Europe. Wow!

Duck the government

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 rant is more common than diabetes. Yet people will stress about same thing and rant to destress. Endless cycle. Either do something about it or bring some new perspective. P.S. I am in alignment with ur rant but I’ve made peace with the state of affairs as I am not looking to move out of India and I cannot strong arm govt. individually to change this.

Software Engineer

Senior Product Manager

Seems like since last year the focus of government has shifted from actually making beneficial policies to enable innovation and growth of India to just collecting taxes blindly. 

They just want to harvest tax in as many ways possible and kill the middle class person.

First it was crypto. 

Then us salaried individuals started receiving notices. 

Then they levied 28% GST on online gaming. 

Now they are also checking proofs for HRA allowance and other stupid stuff which wasn't done before. 

I was wondering why there is a sudden increase in such incidents? Is the government hiding something? Are they running out of money?

Or are they just smoking weed just like us and making stupid rules?

Nirmala tai is looting us

This government’s primary intention is to collect more and more taxes in whatever mean’s possible. They don’t give a f**k about anything. And then will brag every month/quarter about record GST collection! This government is pathetic to say the least! No accountability and arrogance is at its peak. We have come to a point where we can’t even question the government otherwise you will be termed as anti national.

Product Manager

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

Refund from ITR ?

What amount of tax will be deducted monthly for a CTC of 40LPA in India? Work location - Chennai.

Monthly tax for a CTC of 40LPA?

Senior Consultant

For people who lie in the 30% tax bracket, how do you save taxes?

Do you suggest making a dummy rent agreement on your parents name to save HRA? 

Got to know that if monthly rent is more than 50K, the tenant has to pay TDS as well. How do you account for it?

Any suggestions on saving taxes?

Dummy Rent Agreement works?

Which tax regime best for 20LPA salary?

Which regime is best 

New 

Old

I have a House loan only...

Tax Regime

UX/UI Designer

Welcome to News Discussion's Private Community

Standard deduction for employees increased to 75k
STCG  increased to 20%
LTCG increased to 12.5%
🥹🥹🥹

Increment in tax [Budget 2024]

Welcome to Office Gossip's Private Community

Hey everyone, 

Thought of creating a daily post where we all can hang around and talk just about anything - without having a specific topic to discuss. 
Think of this like the Watercooler at your office. 

Look forward to hearing from y'all :)

Daily Watercooler (13th June)

The hiring scene is so bad RN man, and why tf every company I get offer to seems toxic af as per the current and ex employees. So tough to find the right ones

Founder

It's been close to a year since I am earning a salary and this is what I do:
1. Invest a little less than 30% straight into MFs. I have three ongoing SIPs- small cap, flexicap and a Large + Midcap fund. (Planning to increase the amount further into these and not start a new sip)

2. Max out 80C by putting the entire limit in PPF, this is on top of what is by default deposited into EPF.

3. A little (inconsistently) into direct stocks as and when I find or get to know about a decent trade opportunity.

4. An LIC ULIP plan that my father made me subscribe to 🙂 (hopefully will end in a couple more years)

Tips from experienced folks will be much appreciated.😄

How do you invest your salary?

Backend Engineer

Should I opt for New regime? I live in Gurgaon (non metro in taxable slab)

It’s so painful to see the amount of money I end up paying on the name of tax. Presently doing  - 1.5L of LIC and pf + 50k NPS + HRA. What else can be done? My CTC is 55LPA.

Ideas to lower income tax

Hey folks,
I opted for the new tax regime when my CTC hardly touched the tax bracket. 
Now I earn 22LPA and my heart almost collapes after seeing the tax paid. 
2 ques: 
-Is it possible to move to the old scheme to save taxes?
- Given my salary, what are the best avenues to save tax?
Thanks 🙏

Surprise to see that new tax regime is better even with home loan deduction.

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