SparklyNugget
What are the ways to save taxes if you are earning more than 60+LPA?
Title says all
20mo ago
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Curated from across
Title says all
Get a CA start a company draw salary to company
You can’t when you’re employed
You can and the company will oblige. Also shift from a job to consulting position at the company I did it many times and the companies were okay
You can't. As someone else mentioned, being a contractor is the only way because you pay 10% instead of 30% TDS, however you're then obligated to a 18% GST service tax which can be claimed back as a refund by your CA. It's a lengthy process but would save you around 10L per year
Challenge there is to get the company to agree. Big companies have fixed employment structure. You can't just go to them and ask them to hire you as a company
You can he an independent contractor, doesn't require a company. It's just like being an employee but without being classified as one legally.
Also if you can't get that done, then pay 30%, it's either this or that 😂
Reduce base to minimum for lifestyle+emergency+etc, opt for more RSUs instead (assuming it’s a public company). Capital gains tax has much lower rate than income.
Or, erm, donate to politicians
Someone once said "in this world nothing can be said to be certain, except death and taxes."
