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I joined Tiger Analytics with CTC of 9lpa. When I check in greythr IT statement, it shows 7.14lpa.
In the CTC payslip, it shows 75k per month as my salary. But this month I got 61k.
I understand they deduct tax, but I feel it is too much. IDK where I'm losing the money. Can someone tell if this is normal. I'm a fresher so, IDK much about it.
Also, what can I do to pay less taxes? Any help on that?
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Once you cross the 30% threshold, all you can do is pay the tax and move on. The best you can do is utilise the old regime completely, but that's it. Even after utilising it you'll see the money go away in the form of taxes. Think of it as something which you are donating since nothing can be done for this😅.
Salaried people unfortunately don't have much choice in terms of tax savings. I would suggest to create passive income which attract 0-minimum tax (like LTCG from equity, MFs), so that my overall tax rate look less.
+1
NPS investment will help. Saves you 50k from taxable income and also helps in giving mutual fund like benefits.
You can put some amount under NPS.
Also can get Health insurance for yourself and family.
If you have children then one education loan for them can probably save some taxes too.
Get an electric car... Interest in considered for IT returns
Senior citizen parents medical expenses are also considered