Post
Salary Discussions, Hike & Promotions
5mo
a team lead
How do People in high salary ranges save on taxes?
Hi, I'm a salaried person with a base pay of around 50 lakhs, along with some interest income and capital gains from equity. I'm currently paying approximately 10-11 lakhs in income tax.
I'm following the old tax regime and claiming the following major deductions:
HRA
80C
NPS
Political party donations
I'm wondering if there are any more creative ways to save on taxes beyond what I'm already using.
Additionally, is my tax payment high compared to other people in a similar income range?😅
misskick
5mo
works at
Isn't tax also political party donation😅
anjanadmi
5mo
student at
Jamia Millia Islamia
How does political party donation help you? Can you share more about your reason behind party donation? Is it a small sum or bigger than 10k INR?
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splendidpakora
5mo
A Marketing Manager
Bro donate to old age homes, anathalaya instead of polytical parties. You will get blessings at least
swagpumpkin
5mo
An Ops Executive
For salaried employees, nothing can be done. If you are in30% tax bracket, you will pay 4 months of your salary as tax. The only way to pay less tax is to learn less.
Nothing can be done. If your CA comes with a proposal, fire him.
an operations executive
5mo
Itni zada salary Kaha milti hai 😧
corporatenavigator
4mo
works at
You have pretty much exhausted your options. The only remaining option is perquisites. You must be in a senior position, so if you can request your company to provide an accommodation as a perk, that can help save taxes. If you live in your own house, sirf bhagwan aapke tax bacha sakta hai.
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