I just want to vent out! Many businesses are earning double than me and paying less than 50% of tax and yet here I am as a professional bound to pay tax. And that’s not enough, I still can get audited!
Start a business
Bro I am running a business except they all my receipts are digital and tracked
I will honestly never understand people who earn a crore and still have problems paying tax. Most Indians will never see such an amount in their lifetime let alone earn it. You should be more grateful.
Feel what you may want, but our govt feeds 814 million humans every year, it's massively large number and only possible because honest people pay significant income tax.
Have faith things are only improving, we might as well experience dr kalam's vision of India in our lifetime.
Your effective tax rate is around 17% which is as good as it gets pretty much anywhere in the world (unless you decide to cheat). What are you complaining about?
Now people say that they are not getting anything for the tax that they pay in India which is a ridiculous statement. India is an oasis of peace and prosperity in a very dangerous region of the world precisely because our government have the financial resources to maintain it. Good luck running a digital advertising business generating 1.7 crore in income in countries like Somalia or Colombia.
Your first part is good but you shat the pant in your second half. What a stupid comparison
Going by your post, I did not expect you to understand the 2nd part and you did not disappoint me. Taxes are the price we pay for a functioning democracy. Google tax receipts to GDP ratio of failed states like Somalia, Pakistan and central American Nations and you would probably understand (although I am not holding my breath in anticipation).
There are some ways to navigate through this and get your tax below 20L at least, get a good CA
Bhai notice aa jaega, can’t go down from this level. You don’t know how close IT depart takes a look at your profile.
Bhai legally there are some ways, I'll share one - run two registered companies with proper tax filings and gst - nothing illegal, just operate them separately
Only way your tax might be reduced is more and more people start paying taxes properly and fairly, so load on middle class is reduced.
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, farm...
Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime.
The govt is doing a few good things like dissolving inept psu's, selling off entities like A...
I'm a software dev contractor and I'm working for 2 companies, having a total income of 50L per annum.
when I consulted a CA, he mentioned that I'll have to pay 18% GST (since business income is over 20L) and will also have to pay 30% ...
Isn't presumptive limit now at 75L for professionals? Also, IMO it seems like you need a better CA. A good one I...
