Guys.... I need some help
I returned back from Germany this year and now my current fixed CTC in India is 25 LPA and my in hand salary after deduction was 1.4 LPM, I was not sure what to opt in the Tax regime and selected new tax regime. Can someone shed some light how can I increase my in hand salary and reduce the tax. Also can I change my tax regime while filing Tax returns?

Is it normal to have 60k deductions(Tax and PF) for 2 Lakh salary per month?

like
Posting as :
works at
You are currently posting as works at

New Tax Regime is just another scam by government to exploit more money from service class who have almost zero declarations. Even i selected the same. You don't have any declaration to save tax.From 17 lacs salary, i am paying more than 3+ lpa as tax, which i think it's too much. with that kind of tax, i myself could provide employment to a fresher :D

likefunny

New regime is basically nothing but for spoiled brats who want to live in present only 🤣😅

funny

If you are able to invest more and claim HRA, interest component tax saving or any other exemption, go for the old tax regime. Your in hand will go up significantly else stick to the new one

Bhai google it and check which component, you can really utilize..

You cannot change the Tax regime once selected. Its a one time activity.
Old regime is good for people having investments and proofs like HRA, 80C, Loss on house property etc.
New regime is opted by folks who do not have any investments and want the tax deductions as per their salary bracket.

I believe while filing an ITR we can make a switch from old to new tax regime.

like

Chill...you can get your money back according to your investments while filing ITR next year...Till then the deductions will continue

Off topic - Please explain ur life experience in Germany 😉

No, you can't switch from new to old regime in your company and will have to continue paying tax per new regime. However, you can change while filing ITR. Just make sure to have all the documents with you for which you will be claiming deductions while filing tax. The scrutiny for individuals claiming huge returns is high they you might (not necessarily) fall under the few people who are audited, very low chances but better to have the docs.

Related Posts

Again posting since my last post did not got attention. Wanted to ask whether it's good to switch to big 4 India advisory role from a mid tier organization dealing in tech and ops. Additionally, they offered just very low percentage on current CTC saying that I am coming to a big brand.
Plus my current financial situation is stressful and I accepted the offer on certain conditions but now hr or the firm but saying we can't committ you. Any suggestions.

like

Is it acceptable to re-negotiate designation after accepting the offer letter?

like

STERIS sterile processing traveling supervisor salary?

like

Hi Fishes,

Can anyone let me know about my inhand salary from this that i can expect?


Is 16lpa good salary for Bangalore as a bachelor?

Thanks

Post Photo
like

Is there a clause in IBM if one separates before completing year.
Offer letter mentioned recovery of joining bonus if separation before 1 year. If i resign now ,my lwd is beyond 1year since I joined 10 months back. Which date will be considered here? Day of separation filing or actual lwd .
Also Can one can revoke separation at a later stage?

like

Any insight on working as a staff attorney at Sidley as far as pay, growth, hours, etc.? I had someone reach out to me about a staff attorney role there and just want to hear opinions.

like

How does your firm measure utilization? I work for a small boutique that defines it as utilization = number of billable hours/2,080 and full bonus payout occurs at 80% plus.

like

I have offer of 20 LPA from Oracle IDC Pune. Project is related to Oracle Primavera Cloud. I had a discussion with the hiring manager and everything sounded good to me.

I just wanted to know if there are any red flags I should be aware of. So please help me fishes.

YOE 4

Need 11 likes for DM

like

Have you received the salary today? Got the mail now but no credit yet in account 😕

like

Hello,

I have done my cyber security certificate CISSP with 9+ yrs exp can anyone tell me how can I move in to that role and how much salary I can expect l.
Thanks in advance !

like

Need help to decide:
UK: 40000gbp
Germany : 63000euro , 5000 relocation bonus.
Currently I have 5yrs of exp and am based in India with having 14lakh package.
Please help! Thanks in advance!

like

Hello Fishes, is 15 LPA a reasonable compensation for Machine learning engineer (python, c++, computer vision and deep learning ) with 2 years of experience, current working for a product based company. If not what is the current industry standard. I keep seeing people posting 30+ LPA for data science roles with 3+ yoe.

like

Hello All,

Today I will have my video HR round with TCS.
My current CTC was 11.27 LPA with LWD on 28th Feb in Wipro and I am expecting 20 LPA from TCS
My YOE is 9.7 Years in SAS/SQL/SAS Macros.

What do you suggest here , will TCS give me as per my expectation or at what salary should I get satisfied.. ?

I have another Offer Letter of 15LPA with 04-APR joining Date but I don't want to join that org and want to be part of TCS (obviously for Brand and WLB).

Kindly suggest ...?
Thanks 🙏🏻

like

Can someone tell me how is it to work in Informatica Professional Services?
What kind of wrok exposure will i get?
Also do guide me the hike percentage i should ask for. I am thinking of 45-50% on current CTC as this a product based company.
Any suggestions would be appreciated.
Humble request!!

like

I am having 4.5 YOE. Working as full stack developer having current pacakage 13.2 planning to switch now so how much pacakage should i expect and which all companies should I go for.

like

Hi is anyone free for a weekly remote 3 hours daily job as a listing agent for rental property? Experienced or not we have salary based for both experienced and none experienced persons . From 550 weekly. Send a DM if interested for more details.

like

Anyone starting to hear anything regarding salary increases due to inflation?

like

What should base salary be for senior 1 and/or senior 2 in IT due diligence? Doing an internal transfer from IT audit.

like

More Posts

So. MBA from a top 20 program (if that matters), working in the southeastern US with 10 years experience in private practice and hospital administration. Salary thoughts?

like

What actual stocks you all buying today? Got some cash from settled trades I want to deploy

like

How much is the max salary band for Specialist designation?

like

I have positions open for a CW/AD.... looking for mid level, open to a little more Sr. Could be a team, could be individuals.

like

Hi,

Any idea what the next step is? I've applied to multiple jobs and can't seem to get an email as they say in this screenshot.

Or could anybody refer me to job id : 292647, that would be really helpful and appreciated.

Thanks

Post Photo
like

Hi fishes,
Any jobs Mining industries, supply chain management and purchase. I have 12 years experience in this domain.

like

I panicked yesterday and sold all of my holding on SPY and VOO for about 100k yesterday. Waiting for re-entry post elections. Holding TQQQ and SQQQ for now. Should I use the fund to get into options? Good time to venture there?

likefunny

Can someone tell me what will be the inhand salary as per the below given structure.

Post Photo
likehelpful

My 2 year old golden retriever keeps chewing the beds we have got for her. What is the best way to train her to sleep on her bed & any recommendations for tear proof beds? Thanks in advance!

like

Hospital research software development analyst salary?

like

Anyone looking for senior level media account managers with programmatic experience in Chicago or remote?

What free programs can I use for an after school virtual coding class with elementary students?

like

Hi, i have been selected as Senior Security Analyst in VMware. Wanted to know how is work environment in VMware banglore? Also my current ctc is 12.8 with 9Yoe. How much should I pitch for?

like

Anyone else super unimpressed with administrative support with a new firm after lateraling? I told a partner I’d just take care of a routine task myself. He told me my rate is too high and to use a “project manager” (basically an intern they can pay less than a paralegal). We have a 40 person group and 3 project managers making starvation wages. Big firm. You’d know the name.

like

A question for the entertainers out there (magicians, dancers, DJs, really just anyone who is hired to work at parties). Have you ever turned down a job because something about the person asking to hire you just felt "off"?

like

What is your mainsource of entertainment?

likefunnysmart

Is a 2-day deadline to accept or decline a job offer normal right now?

like

Is it possible to get a remote job in the US but be based in Canada? Not sure of the legalities but the salaries here are much lower than those in the US...

like

Anyone in Vancouver want a Programmer Analyst role doing data conversion from Oracle into WD? UBC is a great employer that pays well for Vancouver / Canada and the work is remote, though you have to be in Canada. 4 weeks vacation and benefits start on day 1

like

Heyy Fishers,

I am looking for an opportunity in the Consulting Field and keeping an open mind as I am too keen to work on projects and solve problems.

I have 8 months experience in strategic and risk role in banking and want to expand my domain knowledge of other industries

If anyone can refer me it would be greatful!!

like

Additional Posts in Big 4 Discussions!

Need help to calculate the in hand salary

Post Photo
like

Hi All,
I got an offer from Deloitte India and KPMG Global Services into deal advisory role. The salary difference is not very much but I'm confused now which one to join.
In both the companies I have to work with international clients.

like

Are there any RPA UiPath openings in any of the big 4? Is lateral recruitment happening for these roles? Thanks in Advance

like

Dear EY folks, what's the difference between EY GDS and EY India?

I have been selected for EY GDS as PM. What kind of projects I can expect?

Also, how is yearly appraisal and bonus in EY GDS?

like

Hello Fishes and Sharks, I am looking for job referral in PwC for the Job ID:298018WD for Identity and Access Management profile. I'm currently in notice period which is ending this month. I'm currently working in TCS with 2.5 years of experience. Looking for similar role in Deloitte EY Accenture Infosys ZS Associates Newco IBM Cognizant any other respected organization.

like

What's the org structure at Deloitte? Is Assistant Director at EY GDS same as Director at Deloitte India?

like

1. How much is the 4% bonus in CTC of DEUTSCHE BANK considering 36LPA to be fixed(excluding PF and Gratuity).

2. Also, Is the fixed salary really like only Income Tax deduction or any other deduction as well? Note: Just had a offer discussion with HR, yet to receive my offer letter

YOE : 10 Skillset: AWS Devops Deutsche Bank Deloitte Accenture Tata Consultancy PwC Citi

like

Again posting since my last post did not got attention. Wanted to ask whether it's good to switch to big 4 India advisory role from a mid tier organization dealing in tech and ops. Additionally, they offered just very low percentage on current CTC saying that I am coming to a big brand.
Plus my current financial situation is stressful and I accepted the offer on certain conditions but now hr or the firm but saying we can't committ you. Any suggestions.

like

#offtopic yet important👍
Guys we are seeing bigger issues like
Global warming, pollution, deforestation, water scarcity, abnormal weather etc etc.
Still i feel I am being negligent and not contributing anything to my country/world
I really want to volunteer/ contribute in this regard
Can you suggest me any organisation where i can be part of it?
Infact I request all of you to think in this direction we have so much energy and can do a lot instead of just Netflix and chill
Thoughts?

like

Can someone tell me how is it to work in Informatica Professional Services?
What kind of wrok exposure will i get?
Also do guide me the hike percentage i should ask for. I am thinking of 45-50% on current CTC as this a product based company.
Any suggestions would be appreciated.
Humble request!!

like

Can someone from EY please refer me for job requisition id :183082

like

Does PwC accepts 10th Marksheet as a valid document for dob ? Anyone who has submitted the same ?

like

Off topic

How is Tata Altroz (Petrol)? Any suggestions from owners

like

Switching team internally competing with external candidates. was asking a promotion for next grade midpoint but was ok to accept >=50% hike which i told hiring manager before the process start itself which he said will consider if I'm the one selected.

Attended 5 rounds-- 1 coding, 2 technical, 1 managerial, 1 hr. Now after 2 months telling me I'm the selected one, but offering me just 20% hike and same grade

Any chance for negotiations? Any tips or guidance are appreciated. please help

I have offer from Kpmg and Deloitte and I prefer wfh. Do let me know which one to join?
And other benefits too.

like

What steps have you guys taken to generate a second/ passive income?

I would love to come across some ideas and know how it is working out for you.

like

Hi fishes, does anyone completed PGDM. Is it worth doing? How about added advantage in IT industry of it?

What is a Senior - ll role looks like in Deloitte USI? Can someone share their experience?

like

What kinda hike should I be expecting/asking at KPMG for a new job for compliance and reporting. Currently got two years of experience at EY with pay below 5lpa.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal