PeppyMarshmallow
PeppyMarshmallow

Tax on 50lpa+

Those who are earning more than 50lpa base how much tax do you end up paying? πŸ˜Άβ€πŸŒ«οΈ

8mo ago
PrancingDonut
PrancingDonut
Arm8mo

Almost 40L in the last FY

SillyPenguin
SillyPenguin

What's your CTC? And take home

PrancingDonut
PrancingDonut
Arm8mo

CTC: 1.22 Cr Take Home post-tax: 33L Stocks pre-tax: 72L

WobblyCupcake
WobblyCupcake

I pay 1.2 lacs per month, salary is approx 55lpa, all cash

DancingLlama
DancingLlama
Uber8mo

That’s too much for 55L cash.

WobblyCupcake
WobblyCupcake

How much do you pay? What's your calculation?

FloatingBoba
FloatingBoba

This is nothing to glorify. Indians do not get any return on taxes paid by high earning individuals. People who have opportunities, try to move to a contractual employment and claim 44 ADA.

BouncyQuokka
BouncyQuokka

Who is glorifying this though?

CosmicNoodle
CosmicNoodle

Try to make you taxable income <50. You will save on the surcharge.
You can reduce around 15-20 lakh in old policy. 10 lakh HRA to parents
1.5 lakh 80C
0.5 lakh NPS 0.5lakh standard deduction
0.5 lakh Mediclaim 2 lakh NPS Employer Contribution 5 lakhs in Political Party donation / 2.5 lakh in 5 lakh donation to NGO
If company has any benefits claim them, periodicals, gym, LTA

DancingLlama
DancingLlama
Uber8mo

5L to political party, ( if this deal to turn white to black, stay away government is sending constant noticed to people who did political party donations.)

DancingLlama
DancingLlama
Uber8mo

constant notices*

SillyPancake
SillyPancake

To everyone paying income tax I just want to say

-"thank you"

DancingLlama
DancingLlama
Uber8mo

Paid ~30L last FY.

JumpyTaco
JumpyTaco

12.20, i am still crying...pls

PrancingDonut
PrancingDonut
Arm8mo

OP, tell how much tax are you paying first, preferably with CTC breakup

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