Setup a LLP.  This invests on your behalf and you get advantage of the lower tax rate. 
  
 *the math works only if you have a sizeable corpus and total taxable income (salary + passive) exceeds 1 cr pa.  
  
 A half decent financial advisor should be able to set this up.

Hi, Thanks for your suggestion. What about HUF and PVT Ltd company and one individual company option? I want to nil the tax on  passive income. Is it possible?

Software Engineer

Sales Manager

Passive income adds up to the salary and more tax being deducted.. Examples of passive incomes are interest payout of bond or dividend payout.. Any good strategic ideas pls share.. Will be helpful....

Welcome to Personal Finance's Private Community

Passive income adds up to the salary and more tax being deducted.. Examples of passive incomes are interest payout of bond or dividend payout.. Any good strategic ideas pls share.. Will be helpful. 

TIA

What is the best way to manage taxes of passive income?

What is the best way to manage taxes of passive income?- Grapevine

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 Business Roles's Private Community

Could anyone suggest any good passive sources of income?
Also I see a lot of people writing on LinkedIn these days, what's the motivation behind it?
How are they able to monetize it?

Passive sources of income

External Audit

Welcome to Software Engineers's Private Community

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

So this is something that I have been researching for a while, apart from very well known instruments such as-(only mentioning the ones that should be done by everyone irrespective)
* 1.5L annually through 80C
* 50k standard deduction 
* HRA claim
* Donation claims
* Insurance/Medical claims

How are you folks optimising your post tax income?
Would really like to hear it from people getting >= 24 LPA fixed, since from this point onwards a major chunk (almost 20% goes in taxes) and it really hurts.

Tax Savings for 30% slab

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.

Senior Product Manager

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.

Tax Saving

Performance Marketer

I am planning to invest in National Pension Scheme. Is it a wise decision or any better options for retirement planning? And if you have already invested pls suggest which one to invest in. 

Please let me know your views if you have invested or planning to in future

Investing in NPS

Application Analyst

What are the ways to save taxes if you are earning more than 60+LPA?

Recently got married and looking for side income for savings,Help me with some advise and tips tk earn some amount

Need some advise on passive income

Operations Manager

Rampant layoffs and uncertain job conditions really pushed all of us to realise the importance of having a passive source of income beyond your day job. If you have one, please comment and let others know.

I am aware of trading as on option but haven't been taking that seriously. Would love to know from the community.

What's your secondary source of income?

Software Developer

Welcome to IT Company Discussion's Private Community

Hi, I wanted to take community's advice on tax saving suggestions to opt for and plan my investments. This is what I have:

CTC: 21L ( 19L Fixed , 2L variable pay  in CTC )

80C is covered, Currently I have 50L home loans. & Staying in rented house with 16k rent, Paying around 20k+ TDS. Where can I save? 

Plan me with total take home per month & tax regime to opt ?

Tax planning & suggestion in reduction of tax

System Administrator

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

I'm a salaried person with about 50 L base pay + some interest income + capital gains from equity. 
I'm currently paying around 10- 11 L in income tax.

I'm following the old regime
Claiming below major deductions
Hra
80c
Nps 
Political party donation 

Need to understand are there any more creative ways to save on taxes than what I'm already using ??
Also am I paying high tax than other people in similar income range ??

How do People in high salary ranges save on taxes ??

Isn't tax also political party donation😅

Hi guys, just wanted to ask how are you managing your taxes?

Let's talk about 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?

Hi, I need some help from the finance experts.. I have been doing freelancing for a few months. Until now I was doing it on upwork and other freelancing sites and the amount was also lower (<1lac). Recently I was working with a client outside of the freelancing sites. The client will be paying me in dollars. For transferring the payment he said he will only do via wire transfer.  Now my question is which is the best way to reduce the taxes which I have to pay to the government. The amount will be >10lac. I am already earning more than 10lpa from my job so if I get that money in my account I'll have to pay more tax. On the other hand my parents earnings are not coming under the income tax slab. Should I directly transfer the amount in my account or to my parents account or should I create a msme and register it under GST? 

TIA 🙏

Need help in getting usd from a client.

Welcome to Indian Startups's Private Community

Hi guys,
Have been trying to understand how to start multiple sources of income instead of just relying on my job.
Background: PM at startup, tier 1 btech, 2 yrs exp, don’t code, investments in SIP,blue chip stocks,gold

Could you pls give some ideas. I beleive teaching on youtube abt pming is just too cringe given the amount of content already present. 
Also i find trading too consuming on a daily basis.

How to generate passive income

Welcome to Office Gossip's Private Community

As the title suggests, I'm a lawyer and good at what I do. Haven't got anything better to do, so AMA.

Very happy to assist startups and young businesses as well!

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