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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.
17mo ago
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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.
Paid 2.8L from my CTC of 22LPA
How's that possible? Can u share how u brought t 2.8 L? I am also at 22lpa ctc but paying 5 lacs as taxes.
Omg 5 lakhs? Are you sure?
Mine tax filing is done by a CA. They are very well versed with it. When I saw my ITR that they filed, it had some sections termed as “sec(i) xyz” etc and gave deductions for
Food,Telephone,Internet allowance My gre/toefl exam fee Full flight tickets fare including of myself & other members in the PNR. Interest from savings bank My loss from Paytm stocks 🥲
All the above are apart from hra, lic, mf. So please consult a CA.
0% Blessed be Section 44ADA
What's that
Suppose I'm a professional like doctor, lawyer, consultant or architect and my income is 15lpa. I'm allowed to deduct business expenses like maybe uniforms, equipment, office rent, conveyance to arrive at taxable income.
I can deduct the whole 15lpa as expenses provided I have receipts of business expense and maintain books of accounts.
Section 44ADA of Income Tax Act allows me to deduct upto 50% if my income is below 50 lpa without providing receipts and maintaining books of accounts.
So from 15lpa, I deduct 50% and arrive at 7.5lpa as my taxable income. I further deduct 1.5lakhs as 80C (PPF, ELSS, NPA). Hence I'm supposed to pay tax on 6lakhs only.
