Piderman

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

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 ??

2mo ago40K views

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Morgan Stanley2mo

Isn't tax also political party donation😅

Piderman

Booking Holdings2mo

Cap salute 🫡

GoodGrape

Infosys2mo

Lol

DesignTinker

Stealth2mo

Get a home loan.

FindingHorses

Stealth2mo

Don't take this advice

GoodGrape

Infosys2mo

Bad advice 😂

LooseGoose

Stealth2mo

How does political party donation help you? Can you share more about your reason behind party donation? Is it a small sum or bigger than 10k INR?

LooseGoose

Stealth2mo

Also, I think there are a bunch of govt bonds and investment schemes, some in postal office, some in agriculture that are also tax free.

I heard you can purchase ownership of young teak and sandalwood trees to be sold in 10-15 years. With and without ownership of land.

Piderman

Booking Holdings2mo

It's not a donation, it's a "donation"on paper.
You give them 5 lakhs online. They return you 4.5 Lakhs in cash along with a certificate of donation.
They get to legitimise their black money, you get to save on taxes.
Win win for both; but very much illegal if caught 🤐

MarathiHuman

EY2mo

Bro donate to old age homes, anathalaya instead of polytical parties. You will get blessings at least

Fuck

ServiceNow2mo

He needs money, not blessings!

Qwerty2398

Stealth2mo

For salaried employees, nothing can be done. If you are in30% tax bracket, you will pay 4 months of your salary as tax. The only way to pay less tax is to learn less. Nothing can be done. If your CA comes with a proposal, fire him.

TommyBhai

A large US based MNC.2mo

Why fire the CA bud? Isn’t it good that they are coming up with something?

grapejuice

Startup2mo

nothing much can be done legally

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Or get it on the stores.

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