Tax on 50lpa+

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

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!

Hey folks People who are earning 45-50 lacs salary ( in cash ) how much tax are you paying? Which regime did you choose? What are you doing to save taxes ? I really want to save on taxes so looking out for some suggestions from amazing people of this community. 😀

Can someone explain to me how exactly does the tax work once ur yearly income exceeds 50L? As I understand, currently there is a surcharge on tax, but there is also surcharge relief as well? I read some articles online and was surprised to learn that surcharge is applied on the total tax you pay, not on the extra earnings above 50L (unlike tax slabs). I have some (probably dumb) questions on the topic, hope someone can help. 1. Is amount of 50L on total income or on total taxable income (after various deductions) 2. If I understand the marginal relief correctly, if two people have income as 50L and 51L, both of them will essentially have same post tax income because you will be paying the complete extra 1L as tax? 3. Are there other things I should be aware of regarding this? I appreciate any help you can provide, thank you!

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.

I recently received an offer from a early stage startup. But they told that that pay in contractual basis. when asked about the reason they told that it helps the company and employees to save tax. How does it work? will it affect my future employment if I take this job? like if I join some other company will they accept that I was actually working fulltime. The role is fulltime, but only the money transaction will happen as contractual.

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

I am straight outta clg, asking for me and my friend. Dont know shit about taxes epf gratuity and esops etc, will study about it soon but just wanted to know the figures now so that i can tell it at my home. Thanks Grapeviners and wish u a merry Christmas 🎄.