img

Suggestions to save tax ?

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.

img

SlimDozen

LTIMindtree

2 months ago

Ask your HR to reduce your salary
img

FittingFire

Capgemini

2 months ago

Old regime , 80c 1.5 lac ,Hra depends on your salary structure, LTA (once in 4 years) and lastly 80 g allows you to claim parents insurance which you have purchased upto 50k+ 5k personal check up (without bills) total 2.05 lac + whatever in HRA
img

SelfishBacon

Oracle

2 months ago

Hra , 80c , medical self and family nps
img

GeneralZod

Stealth

2 months ago

Lots of ways : 1. Create a fake rent agreement with your parents claiming (2-3 lakhs of HRA completely) 2. full 80c (1.5 lakhs)+ insurance (1lakh ) , LIC 3. NPS(50k) 4. Home loan (interest upto 2lakh) 5. Other allowances (car running cost + travel allowance - take 1 vacation with family - all flight tickets are reimbursible) - I think limit is 5lakh of Other allowances.
img

StainedTuna3

Stealth

2 months ago

Is this allowed in New regime??
img

GeneralZod

Stealth

2 months ago

New regime - No deductions allowed
See more comments
Sign in to a Grapevine account for the full experience.

Discover More

Curated from across

img

Indian IT on

by PSK

TCS

Tax planning & suggestion in reduction of tax

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 ?

img

Personal Finance on

by SecretKing

Fintechlending

Tax Planning

Any tax planning recommendations / tips / third party suggestions for someone earning ~25lpa ?

img

Personal Finance on

by Heartbeats

Kalr

Percentage of Total CTC did you pay in tax ?

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.

img

Moving Abroad on

by MammothAir39

Amazon

Should I move abroad?

I am working as software engineer at FAANG. I pay ~1.25L income tax per month. It pains me a lot. Since being general class male, I never got any benefit from but these govt is looting me. There are many small shopkeeper, landlords, farmers who earn more than me but none of them is paying tax but here I am paying such huge tax like loser. What should I do? Should I move abroad where even though I will still pay 30% tax but still I will have more money than being in India, or should I open a shop like of clothes, or chai?

img

Software Engineers on

by qwerty_

Zepto

Tax on 50lpa+

Those who are earning more than 50lpa base how much tax do you end up paying? 😶‍🌫️

img

Misc on

by HandyGator88

Student

CTC

How much CTC is said to be good for a person to be going to do a job in Bengaluru or other city?

img

Personal Finance on

by overthinker

Student

Help! Rs 38K income tax on 8.8L CTC (50 yrs old middle class man)

One of my uncles (50 years old) has to pay Rs 37K tax every year, he is the sole earner in his family, he is a very simple and honest middle class man trying to provide for his family, is there any way that he can save that tax? They live paycheck to paycheck, As the tax amount is a lot for him, pls help with what can be done? I’ve seen people who earn hell lot more paying 0 taxes, pls help Home EMI= Rs 25K per month Family members= 6 (Wife, 2 daughters, Parents) No Mutual fund SIP, no health insurance, no knowledge of how to save taxes

img

Personal Finance on

by corporateboyjoe

Stealth

Seeking tax advice for 80 LPA income

How much do you guys generally pay in taxes with an income between 50-100 LPA in India? What are the options to save tax apart from the normal 80C, 80D, insurance, donations etc.?

img

Personal Finance on

by kungfubride

Google

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

Title says all

img

Personal Finance on

by Ssoul

Stealth

Tax Saving

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.