Tax on more than 50L Income

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 have very few knowledge on Tax. So sharing my queries here. Kindly guide me In my Apr month salary slip I got to know about this. Annual Income - 7,67,xxx Net Tax Income - 7,17,xxx (After deduction 50k) Tot. Tax payable - 17,xxx Tax deducted this month - 1,xxx (Tagged to NEW Tax Regime) Will this Total Tax payable is for this entire financial year or it will be increases frequently after each month salary? If I increase my PF contribution of about 20k for this year will this works for saving tax? Or any otherway is there means pls guide me Thanks in advance 👍

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.

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!

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.

The foreign companies pay you the exact amount without deduction and the taxes need to be paid by the individual. Does the section 44ADA really help to save tax? What's the benefit if someone is earning the same amount from an Indian company and the same from a company outside India? I've read the rule change if you make above 50L. I would like to know from people who are actually paying freelance taxes.

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime. The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc. But when and how are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

How to pay 0 tax when income is around >= 12 LPA?