by ZoomyKoalaKeka
How do you all save taxes?
As a salaried employee earning more than 24LPA. What all investments do you do to save the maximum taxes?
SparklyNugget
What are the ways to save taxes if you are earning more than 60+LPA?
Title says all
24mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
GroovyMarshmallow
Stealth24mo
Get a CA start a company draw salary to company
DancingPancake
OPEN Financial24mo
You can’t when you’re employed
GroovyMarshmallow
Stealth24mo
You can and the company will oblige. Also shift from a job to consulting position at the company I did it many times and the companies were okay
SwirlyPancake
Jio24mo
You can't. As someone else mentioned, being a contractor is the only way because you pay 10% instead of 30% TDS, however you're then obligated to a 18% GST service tax which can be claimed back as a refund by your CA. It's a lengthy process but would save you around 10L per year
MagicalPanda
Student24mo
Challenge there is to get the company to agree. Big companies have fixed employment structure. You can't just go to them and ask them to hire you as a company
SwirlyPancake
Jio24mo
You can he an independent contractor, doesn't require a company. It's just like being an employee but without being classified as one legally.
Also if you can't get that done, then pay 30%, it's either this or that 😂
GoofyDonut
Stealth24mo
Reduce base to minimum for lifestyle+emergency+etc, opt for more RSUs instead (assuming it’s a public company). Capital gains tax has much lower rate than income.
Or, erm, donate to politicians
SquishyUnicorn
Swiggy24mo
Someone once said "in this world nothing can be said to be certain, except death and taxes."
JazzyBagel
Reliance Retail24mo
Use vpf, invest 100% of your basic
Use corporate nps, 10% of your basic
Use fuel + driver reimbursement to the fullest
These will reduce taxable income by ~ 20 lakhs
And if you want more.. take home loan 😉
JumpyPretzel
Slice24mo
Can you help understand how VPF,corporate NPS works ?
SquishyPickle
Amazon24mo
My advise is get a CA. They’ll handle everything. Pay him extra, do political donations ;) and stuff. CA will find a lot of ways to save you money
SqueakyPickle
Google24mo
Best way to give your earnings as a donation under 80G section to your close friends or to your team, this will save your tax. 🤪😀
WobblyNoodle
InMobi24mo
Have explored tax savings options since I have similar tc.
Legal way - none Illegal way - donations to ngo/political parties.
SwirlyWaffle
Stealth24mo
Following 😬
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by PrancingHamsterFounder's Office
How to Maximize Tax Savings on a 12LPA Salary?
Need advice on tax-saving options for a 12LPA salary. Which is better: PPF, ELSS, or NPS? Any tips beyond Section 80C
by DizzyMarshmallowBooking.com
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 ...
Top comments
Isn't tax also political party donation😅
For salaried employees, nothing can be done. If you are in30% tax bracket, you will pay 4 months of your salary as ta...
Personal Finance15mo
by MagicalSushiProduct Manager
Ideas to lower income tax
It’s so painful to see the amount of money I end up paying on the name of tax. Presently doing - 1.5L of LIC and pf + 50k NPS + HRA. What else can be done? My CTC is 55LPA.