Can there be additional tax saved apart from the above things mentioned?

Business Analyst

Chartered Accountant

Yes, it's beneficial to hire a CA for return filing and investment planning. I'm a CA myself.

Hi, I'm a CA . 
 If you are filing a simple ITR 1/2 return with only salary income and simple other incomes like interest income. Etc, it's not required to have a CA.  
 You can start availing the services if you have capital gains, RSU's , sale of property. Etc  
 However, it is always better to have a CA than not having one.

I've been doing my taxes for 5 years.  
  However  am exploring some new ways of tax saving which I'm not utilising rn.  
  I've a salary of around 45 L and have the following deductions 
  
 Hra 
 80c 
 Political party donation 
  
 I'm paying about 11 L in taxes and it hurts. 
 Is there any scope for any improvement here?? 
  
 From next year I'll add nps and term insurance also as deductions

Software Developer

You need a certified financial planner not CA.

Software Engineer

How do I find a CA? I tried searching grapevine but could not find any relevant post where how we can find one is mentioned..  Is it beneficial to hire a CA for salary upwards of 30LPA? Like, can t...

Welcome to Personal Finance's Private Community

How do I find a CA? I tried searching grapevine but could not find any relevant post where how we can find one is mentioned..

Is it beneficial to hire a CA for salary upwards of 30LPA?
Like, can they help me save more tax than the usual 80C/NPS/Medical Insurance savings, I seem to have already maxed them out.
Also if we opt for new tax regime, can CA help in saving additional money?

Any help would be appreciated :)

Tax Saving

Tax Saving- Grapevine

I am salaried & have opted for new tax regime. I have zero liability (no EMIs, etc). Closed both my home loan & car loan. I live in my own house.

My yearly tax comes out to be around 12 Lakhs. I want to know if there is a scope to save taxes continuing with zero liability. I would not mind appointing a CA but I have no idea how to choose the best CA.
1. How much does a CA charge annually?
2. Is it really worthwhile to have a CA given the above?
3. What are some questions I must ask the prospective CAs so that I can assess their capability?
4. Salaried people that have already appointed a CA can share their experiences.
5. Is there any off-the-shelf ideas I can get here to save taxes?

Need help choosing a CA to save taxes

Software Architect

How much taxes can be saved on a 40 lakhs package? I am planning to hire a CA but looking for rough estimates here. I can structure my salary in any way I want and can invest in all schemes except housing loans.

Performance Marketer

Welcome to Software Engineers's Private Community

Those who are earning more than 50lpa base how much tax do you end up paying? 😶‍🌫️

Tax on 50lpa+

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?

Product Manager

My friend has 53L in cash from his freelancing and other businesses. How can he save taxes on it? We don't know any CA and the ones he met said pay tax in entirety. 

Any suggestions are welcome.

PS: it's NOT a sarcastic post

How to save taxes?

Senior Product Manager

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 much taxes are you paying? is there a way to reduce that?

Staff Engineer

Welcome to Banking & Finance's Private Community

Hi, I'm looking for advice on how to avoid surcharge and huge tax of 12 Lakhs + on salary. Can someone tell me if there is anyway to avoid this? Or refer a good CA for the same. 

I have consulted current CA and she says that nothing can be done, also I have done maximum possible deductions by fair means. Do you think I should go beyond this but a notice can cause real damage. Has anyone experienced notice issues lately if trying to avoid surcharge? 

PS: I dont need advice on how taxes are important to run country or feed less fortunate, so save it. I understand those problems but I've seen same all my life.

Looking for Advice to avoid surcharge

AI Engineer

I am a software engineer in Bangalore having base CTC 13.8 lpa. Which brings me to a tax of more than a lakh rupees, what are the possible ways to reduce this taxed amount.

Suggestions to save tax ?

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

I'm a software dev contractor and I'm working for 2 companies, having a total income of 50L per annum. 

when I consulted a CA, he mentioned that I'll have to pay 18% GST (since business income is over 20L) and will also have to pay 30% income tax. 

i understand taxes are important and all, but I'm so not willing to give 6 months of my hard work to the government. 

can anyone please advise me on what to do to save on taxes

paying 48% tax. need a CA's advice

As a Fresher in the 30 % tax bracket should I choose old regime or new regime ?

Fresher in the 30 % tax  bracket old regime or new regime

CTC - 21.5 lpa
Fixed - 16 lpa
Joining Bonus - 4 
Relocation - 1.5 

Also tell me which regime to follow and how to save tax

Wanted to know tax on my salary

Growth Manager

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?

I have read multiple comments and suggestions asking people to just go find a CA. Can anyone suggest some helpful tips or forums for this??

Tax Saving

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