Hi Fishes,
Here is a tax question bothering.
My friend is an IT employee and his income is around 7lakh per annum. He is borrowing around 80K per month from his parents and investing it in RD for 9 months as he needs the amount in 10 months for something.

Now, the question is, he is already having income as taxable and if he borrows a total of 7,20,000 rupees and save it, will it also be considered as taxable income added to his actual income? Will this amount be calculated while filling tax?

Is it a good idea to trade indexes like VTI and SPY short term? My logic is in the long term indexes will go up so even if I buy high, I can just hold for the long term.

Moving to Austin end of this year, with a new baby.

With ~$500k HHI and almost no debt, in which neighborhood can we practically afford a house? We do outdoorsy stuff (mtb biking, kayaking etc.) and also have a dog that likes to run.

Any suggestions are appreciated! 🙏🏽🙏🏽

Thoughts on Transfix? Anyone invested?

Are all 529 plans not allowed if one makes partner at PwC? Seems like everything is showing up as not permitted on independence checkpoint.

Just curious, has anybody invested on affordable housing in Gurgaon, India? Or got any insight for a first time investor.

Soooo what do we think about the new ADP program?

What would you say is the minimum amount of money that your household would have to make before considering to have two babies?

Genuinely curious: How do you justify working in PR knowing that you won’t make $100k+ for 15-20 years? I’m 3 years into my career and I have regrets about choosing this field when I look at my financial timeline.

I am down $25K on $150K portfolio. Should I cut losses and leave or continue :(

How much do you normally on average net when you sell a home? Looking to upgrade due to second kid on the way and I’m curious how much goes to fees, brokers, agents, etc. My current home is worth 325k per Zillow and my mortgage balance is 165k, so about 160k of equity. So if I sold it for what it’s worth at 325k, how much could I expect to net for my next home’s down payment? I see different answers online so anyone with experience would be great. Thanks.

Huge btc short position in market right now, I expect a lot of liquidity issues to come to light soon. Bitcoin should end up below 30k and stay there as new resistance soon. You all doubt my previous posts but all these bumps to 37-39k are fake bounces from retail buying the dip. Defi is gonna unravel. Do you honestly believe the 10-40% defi interest rates were risk free. It’s all paid by stablecoin printing backed by the assumption that crypto prices would keep appreciating

What are everyone's thoughts on making the Monthly Child Tax Credit permanent? I think it is an important step to care for the families in our area, but I know not everyone believes in this program

Anyone know of any standards, or have any opinions, on naming in-house counsel as a named fiduciary of their company's 401k plan? Pros and cons?

I am 29F and earning 13LPA. I have been working for 4 years of which 3.5 years I had very low pay and close to 0 savings. I have been able to save 6L now.

My investments below:
* Elss funds - 2 (total 1.5L annually)
* Large cap mutual funds - 6 (total 40K sip per month) current portfolio of 4L
* FDs - 2 of 25K each
*Medical insurance - company provided

Can someone advice if this is a good investment plan for future? What can I do better? Do I need another Insurance? Where else to invest?

Desi 🐟 fam - What apps are you using to make payments in India using US credit card?!
I use Wise for money transfers and other payments using debit card but i want to pay with my credit card and wondering if there's an option for that

My queries is related to ELSS fund.

Can some one please explain me the concept of lockin perod in ELSS fund.?

I have a sip which started on 1st June, 2019.

So the lockin will b till 1st June, 2022 or the 2 yr lockin will keep on adding on each sip?

I am bit confused here.

Any help much appreciated.

Got news that my house closing may have to be moved due to a delay in the sale of my home. My partner’s income was excluded in the DI ratio, but if it were included we’d be well under the % threshold and can be approved to close on time regardless of the sale of my house. However our mortgage company’s underwriting team has been painfully slow in confirming if her income qualifies. She’s been at her new job 1 month after a year off. Anyone with underwriting experience have insight?

Have any of you considered FIRE? I'm sure some of the partners are young and rich enough to retire. So why not say screw working until 60 and to hell with the pension? Travel the world and live life while I can?

For those of you who made your first million in net worth, what did you do next?

Google stock to buy now or after the split?

If I contribute to a solo 401k, is the additional profit-sharing contribution (the 25% of compensation after the $19500 contribution) based on my gross income, or is it based on gross income minus expenses? Thank you🙏🏼

DXC or Capgemini or Fidelity Investments. Fidelity has offered highest amongst 3. I am having 11 YOE.

Can anyone advise on some good ways of getting referrals for making job applications? I’m a current masters student, graduating in May 2022

Can someone tell The Weeknd to get out of here with this pop nonsense and come back home to R&B please?

Thoughts on getting CFP when done with CPA (1 test left) and pivoting from audit to personal financial planning? Estates, taxes, savings, etc. Or should I just stick the OG plan and go into industry FP&A when I make senior/CPA?

Better Opportunity: Big 4 marketing or brand management? Long term outlook, pay etc

I’m looking to book a weekend in NYC at Marriott. I will use points and have suite nights I could use as well. Any recommendations?

Anybody have workout shirt recs that are longer? I’m tired of shirts fitting at the shoulders and being too short … 6’1” 200lb

Hi Fish,

I have attended an interview with Airbus recently and have passed the technical round. They said the next HR round is expected to be after 9th of August. What should be the salary expectations?

I am currently drawing 12.1 LPA form Accenture with 6 yr exp - 10Lakhs is fixed and rest is variable pay which they never pay. When I see on Quora & Linkedin people are getting 40LPA with same experience in other product companies. What to discus? How much to ask without risking the job offer?

Hi all, what is the promotion after Senior Analyst in HSBC? Will one be promoted to Manager? And how much time does it takes to get promoted?

Whether its difficult to get GCP Projects in CTS?

Hi All,

Need a help urgently..I received an offer letter from Cognizant 10 days ago but haven't received a mail where I can accept the offer letter and proceed with BGV. Can someone tell what can be done? I had applied with an experience of 3 years.

Thanks in advance.

Procedural question. I represent a hospital. Codefendant is a company that manufactures breast implants. Case was venued in NY state Supreme Court. Manufacturer defendant transferred case to MDL (we hadn’t answered yet). Plaintiff gave me stip of discontinuance with prejudice but now since case was removed I am unsure how to proceed. Do I file the stip in state court still? Does MDL have jurisdiction over the hospital? Can a hospital even be part of a MDL lawsuit? Very confused! Thank you!!!

Wondering if anyone can give insight as to what salary range is for an insurance compliance role as an IC3 or similar?

In my organization, most with my role are commission based. I make a set salary due to the firm I work for as an account manager/ coordinator for clients… I coordinate their enrollments, working with each groups HR department as to benefits and payroll purposes, and schedule our benefit counselors accordingly. I am finding that in most cases where I compare the voluntary benefits industry, I might be underpaid. What is an appropriate base salary for a position in which commission is replaced?

I have 3 years experience being an account manager in a large brokerage. I got promoted to be a supervisor to a small team of account managers and started at $77k and have now increased to $83k 6 months later. Does this sound fair based on my 4 years experience in the field or am I underselling myself?

Hi Everyone,

I just need some advice.
My father passed away a few months back and I am yet to obtain the legal heir certificate. Given the ITR deadline is near, should I just file his ITR from his account or is there any other option?

Thanks in advance

Hi all
Can some please help me !!
I have already paid self assessed tax but in income tax website its not updated and money also debited from bank
What should i do now

Hi Fishes,
I started my job in 2020. I haven't fill ITR till now. My CTC is below 5LPA.

1. Can we fill the ITR for previous years? If yes then...Will it cause any issue?
2. What would happen if I start filling ITR from this year only and skipping for previous years?

Please suggest and guide

Hi Folks, how much max amount we can retain back after 80c tax claims on income taxable amount. Any idea? Is it varies based on package? What is the percentage ?

Do you submit fake rental receipts and owner pan card detail for HRA? Is it normal ? I see most people does in my team. They submit parents or spouse pan card number as owner pan card number to get HRA. Is it same everywhere?

Please let me know how to claim (whats bills needs to be submitted) exemptions for Special Allowances.

How to bring tax liability to zero for 15 lpa ctc?
Can I claim hra for less than one lakh per FY and Maximum housing loan benefits?

The rental place and property under loan are in same city.. Parents stay in rental ( I pay rent) and I have purchased new flat in same city for myself.

Does your organization make you feel like your work is only a support function to their more profitable businesses?

Hi team ,

I have started working from jul2019 and I have filed my tax return for 2020 and 2021 tax years.


However I note that there was withholding of some amount in 2017-2018 and 2019 tax years ( withholding from comission received from insurance commission from lic and United india)

I have not filed 2017, 2018, 2019 return as my total income was less than threshold

Is it possible to file return for 2017 , 2018, 2019( all r in refund) now without paying any penalty?

My CTC will be
Basic 13LPA
FB 7 LPA
Total fix pay - 20 LPA

80c - 1.5 LPA
HRA 3 LPA

Any one please help mi on which tax method will be sutable for me old or new?

I want to know which tax slab can be appropriate for a 10lpa and what are the way I can manage to reduce my tax computation.
I have been to this tax slab for the first time don't have. any knowledge.
can one of you assist what can be done or what are the steps for saving the tax or us it possible to have 0 tax.
FYI,
2.2lck is hra

I have gains from stocks.. as LTCG. Do I need to file ITR 1 or ITR 2?

For rent paid below 1 lakh there is no need to submit landlord's PAN. I have calculated based on my HRA and if I show rent paid as around 96k my tax refund will be around 13k.

However there is no rent agreement or rent receipts.

Will it be a problem later on if I show this in my ITR?

Whats the max of monthly rent has anybody shown for HRA deduction 😅

Anyone here working in M&A tax? need a referral.

I'm a recently qualified CA (first attempt)

Hello people,

Need some inputs!

When I file my ITR, it is auto-populating the 'income from other sources' by 40k and increasing my tax liability by 10k however form 26as shows no tax liability.

Should I edit the header to Rs. Xx which is below 10k hence tax exempted and stick to info as per 26AS?

Thanks a lot!

If my parents live in a government provided house and I live with them (wfh), how can I plan my HRA exemption?

Hi,

Where to invest to reduce the taxable income of 8 lakhs after investing 1.5 lakhs under 80c and HRA 1 lakhs ? Medical insurance 50 k I’m aware of it and I don not plan on any house loan. Please suggest.

I selected new tax regime in the company 'xyz' portal for April 2021-March 2022. I left this company in jan 2022 and tax of 16k got deducted from F&F settlement.

I have investment in EPF and submitted the rent receipts to the company for tax exception for HRA. But in F&F, based on new regime tax deducted.

During filing ITR for assessment year 2022-2023, can I file by selecting old regime and get this 16k return?