Who doesn’t hate paying taxes ? Please list down some of the underrated options, hacks, workarounds, tips & tricks to save taxes. (Should be legally right, can be ethically wrong)
List down more…..
If you are in 30% bracket and have huge liquid cash, transfer it to non earning parent, will save 20% on TDS on interest
Check with your HR for tweaking your salary structure to make it tax friendly, if not done already
i tried this with my HR. Those people dont want to do anything that will increase their work load. A buffalo crossing the road might listen to people, but no these HR.
If you live in a house owner by your parents, pay rent to the non earning parent and claim HRA. Even if you pay high amount of rent, just pay a small amount of tax on behalf of the non earning parent.
Net net, you make a profit
Don’t live with parents but I’m still doing this to maximise the savings 🤓🤓
Can this still be used when you have a different residence address?
For eg, parental house is in City A and your work location is in City B with ₹20k as the rent. Can I still show ₹50k as rent in City A?
become a farmer
I was from a government school+college and don't feel too bad to pay taxes(maybe didn't understood the actual money value yet)😄
