Fuel & food is tax free if you can provide fuel bills along with four wheeler RC on your name

Vehicle is on my mother name. Shall I use that because the are not showing it for tax. Basically none using this vehicle in tax. Is it possible to use that vehicle number?.

Software Developer

Atleast in mu org they ask RC of the vehicle and it should be on employee’s name

Software Engineer

Looks like this one is from capgemini. Fuel is useful. You can show your fuel expenses with bills and claims it. Show home loan interest , principal amount, health insurance of upto 50k for you and 50k for your parents, NPS also you can show, HRA you can show. Almost upto 1.5lk + 2lk + 75k + 50k + 2lk = 5-5.5lk savings you can show. Else if nothing you can go for new regime

LTA can be availed for only travel like air, bus, train. For air its economy class, for train air condition coach, similar for bus as well. Tax exempt is available for immediate family members as well. Two jouneys in block of 4yrs can be availed.

Software Test - QA

Aren't employer contribution to gratuity and pf bore by employer

Yes but it is included in compensation only

Why luxury things vehicle fuel, LTA, in offer we cannot show them in tax returns or I am misunderstanding it. Is this same common for all companies?. This is my first offer.. Also what will be my m...

Welcome to IT Company Discussion's Private Community

Why luxury things vehicle fuel, LTA, in offer we cannot show them in tax returns or I am misunderstanding it. Is this same common for all companies?. This is my first offer.. Also what will be my monthly take home. Any inputs will be Appriciated. I don't have loans, stocks, health insurance so I am planning to go for new tax regime.

Why unnecessary luxury things in offer

Why unnecessary luxury things in offer- Grapevine

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+

Welcome to Personal Finance's Private Community

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?

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

Data Scientist

Which tax regime is better old one or new one for 12.25 LPA. I am paying 20k for insurance that’s it I don’t have house loan, rent bills etc

Which tax regime is better for 12.25LPA

Consultant

how much would the net monthly take home be? how can i arrive at the final number myself? pls consider the old tax regime and standard 80c deductions; i also have a student loan worth 17-18 L @10% (i think i can get some deduction on tax on it)

net monthly takehome

Quantitative Research

Which tax regime best for 20LPA salary?

Product Manager

I wasn't doing proper ITR, I was in the family biz for the last 6 years, recently joined a startup and they don't have any proper salary composition. My current salary is 35L in hand (2.9L per month). Apart from HRA how do I save in taxes? is there an app which does it for you?

Taxes 101? 40+ LPA

UX/UI Designer

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 ?

What amount of tax will be deducted monthly for a CTC of 40LPA in India? Work location - Chennai.

Monthly tax for a CTC of 40LPA?

Senior Consultant

Off topic

Last year(23-24 financial year) Total Tax deduction was 60k. My total investment in 80C(PPF and ELSS) 48500 and in 80D -16000. So how much return I can expect after filing tax. 

Tax regime- Old

I am new into this, so it may sound a foolish question but I want clear my concepts on Taxes.

Tax Refund

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 recently got a job offer at a well-funded remote startup headquartered in the US as a DevOps engineer. They adjust the salary package to account for the country so I won't be earning in crores... but I wanted to ask people who are in remote positions as to how to negotiate a salary that will be rigid more or less,no options are there to negotiate till a super high margin (maybe 10% max).

For example, they are offering 33 LPA currently, does that put me in a higher tax bracket and can I negotiate for a lower compensation so that I can be put in a lower tax bracket, say I ask for 29 LPA and ask for a joining bonus (or HRA) or some restructuring to do that? 

I don't understand how taxes work in India especially with remote payments but I'm hoping someone can offer the right guidance and resources so that I can look into this in depth later on as well. This is my first ever job and I got it straight out of college, so I do not mind even if they are paying me less than their US counterparts. This salary is more than enough to survive in a tier 2 city (will be shifting back to live with my parents).

I don't have much investments right nos, just a couple of FDs and some equity + debt funds along with stocks (mostly banks + chemical companies here and there). I can look into ELSS funds and what not if that can save up some taxes. I am considering talking to a CA about this too.

(Note: not comfortable with naming it even if this is an anonymous platform because it has like a strength of 50 and I feel it is irrelevant to the discussion).

TIA!

Tax savings and salary question for remote jobs

Scrum Master

I recently got an offer letter from citibank 
They have mentioned the flexibile component as 3.6 L in the offer letter 
What does it include , is it just the taxable income ?
Please clarify.

Doubt with Offer letter

Business Analyst

Govt of India is best at killing Middle Class. What percentage of your total CTC did you pay in tax. Income Tax department id the new Sahukar.

Percentage of Total CTC did you pay in tax ?

Analyst

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 Indian Startups's Private Community

What does "Tax deducted at source" mean? Cuz my company is deducting 200/- as professional tax already along with provident fund. Does anyone know or it's a fancy term for "pay us more tax"?

Why unnecessary luxury things in offer

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