QuirkyWaffle

Need Suggestion for saving TAX

Got an offer, I calculated the tax and it will be around 3L ( currently it was around 1.5L) it's crazy, I don't want to pay 25k each month as tax. My Gross will be around: 22L I'm 24, I don't have any health insurance other than the company provided one, no home/education loan. Please suggest how I can reduce tax. (I have already included max 80c, NPS, HRA in my calculation)

3mo ago

5.4Kviews

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WigglyMuffin

Stealth3mo

Yaha Mai 1 lakh s upar tax pay kar Raha ho. Hra hi major component hai jisme save kar sakte hai

QuirkyWaffle

Infineon Technologies3mo

Splendor bhai koi legal/illegal tarika hai tax bachane ka?

WigglyMuffin

Stealth3mo

Legal hi hai. Apne parents k account m paise JAMA karo.

SparklyPotato

Bain & Company3mo

Get a term and a health insurance for yourself and parents. Usually company provided health insurance covers bare minimum

QuirkyNugget

Student3mo

Term insurance for 'self' makes sense. Taking health insurance for parents especially when with existing illness -There will be waiting period of at least 2y and premiums are high. Any suggestions?

ZippyMochi

Stealth3mo

Your tax payments will only increase here onwards. Consider self employment or starting up if you want to open an msme and pay minimal tax.

QuirkyWaffle

Infineon Technologies3mo

I get that but for now paying 25k per month seems ludicrous because on investments also pay tax plus on RSUs also. Was looking for advice like should take a home loan or a health insurance to save tax.

JazzyKoala

Ericsson3mo

Try and check if you can join as consultant. You can save a ton of money. But compliance is also complicated.

WigglyTaco

LTIMindtree3mo

Compare and see with new tax regime. I feel you can save more in new tax regime.

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