Personal Finance Community

by Jetbrains

5 months ago

Tax planning rant

I was doing a tax plan for the next FY. A significant chunk is going off my hard earned money 😔 for which I get 🔔 from govt. I hardly use any public facilities , or can simply say they do not exist and are not up to mark Any Tom and harry comes and starts freebies for his noble cause of votes which tax payers like me are not eligible to be benefitted even if I want to take any . Why the heck I have been taxed so much . Even if you get variable pay this month which was already taxed with TDS and If I invest in MF lumpsum and get some gains . The whole amount will again be taxed that too according to my tax bracket . Although I am not considering indirect taxation which is another curse we all are facing . Is everyone pissed with this tax story or simply ignore and move on to pay more tax and grind more .

WhatALife

5 months ago

You don't use roads? Metro? Petrol pumps? "Public Facilities" arent just Sulabh toilets or ration cards When paying so much, study where all the money is used

Pretty

Flipkart

5 months ago

Where are the roads, metro, petrol pump etc? I see only potholes or village like roads in tier 1 city and no metros. Don’t even talk abt roads or any other services when it rains.

WhatALife

5 months ago

I live in Delhi, we have most of these

potatomato

Fintech Startup

5 months ago

> Why the heck I have been taxed so much Why are the big businessmen BILLIONS in getting tax breaks!

majboormajdoor

Stealth

5 months ago

You dont pay the income tax, your company pays it in your name. If there were no Income tax, your CTC would have been 30% lower. So stop feeling sad.

wildman

Kotak Mahindra Bank

5 months ago

No, I do not agree. Bro we are already poor labour, you want to cut 30% ?,😭

majboormajdoor

Stealth

5 months ago

That's how our salaries work. Our company inflates the CTC to include the income tax. If salaried income tax goes to 0, our CTC would reduce roughly by that amount.

SleepyNexus

Wipro

5 months ago

You are a perfect example of being literate but uneducated. Police, Defence, Courts, Municipal Corporations, Roads, Airports, subsidised healthcare and food for your maids, cooks, drivers (without which they would never survive with the salary you pay them) - how do you think all these things function? Just because you don't interact with them directly, doesn't mean you don't "use" their services.

Jetbrains

Continental Automotive

5 months ago

@SleepyNexus Was hoping for a healthy discussion . With some solutions from participants it seems some people lack civic sense . Follow this thread hope you get some light . Why I was pissed with paying my hard earned money when I get nothing in return . Also to make a point we pay municipal taxes and road taxes and other indirect taxes for services we use . Hope this changes your perspective https://share.gvine.app/yqupgVVUCxqoP3Q58

PerfumedSled

Stealth

2 months ago

Stop ranting start planning, 1finance.co.in/tax-planning

iron_man

Unicorn-Startup

5 months ago

You can consider tax as charity. Still 80Cr people life depends on government provided ration.

ElonMast

Amazon

5 months ago

~ ~ E N T R E P R E N E U R ~ ~ Some body with this self-awarded-tag is coming here to bust the illusions 🤣

Techtonicc

5 months ago

Unfortunately in India honest tax payers are never rewarded or incentivised. Even I don't feel any value of my ITR + I pay tax on every commodity I buy. Like somebody said consider this as charity until there are real reforms in tax collection or public services offered to citizens.