Hi Fishes

Has anyone declared rent more than 50k per month in tax declarations.

Do you deduct 5% TDS on the rent amount and file it with the tax department? Also do we need to submit any additional proof apart from rent receipt and agreement if rent declared is greater than 50k per month.

Interested in starting AirBnB in SoCal.
1. Where do I start for gaining how to knowledge.
2. What’s are the best areas to buy the property for best cash flow and appreciation down the line.

What are some of the investing must-reads that you'd recommend?

NFT’s... no interest in buying them but very interested in buying into whatever it is that makes tick. I think there’s a lot of money to be made off of such a ridiculous investment. Any ideas on what to buy to take part in the business of NFT’s, without having to pay $69 million for a drawing of a cat?

I’m loyal to delta, but I’m moving to a city where American is the main hub and Delta has practically no non-stop flights to/from there. It’s time for me to open a new credit card, so I was considering the Citi/American one. Any thoughts?

Sharks! I’m 33, currently working as a Java Architect (11.6 YOE, 40 LPA INR). I’m planning for retirement at my 40. Currently owning a house worth 1 Crore INR where I’ll be closing my home loan by this August. Please suggest diversified options of Investment for my retirement. I don’t have any investment till now (except the house) as I used my whole income to close off the Loan which I took in 2019.

I had a stellar annual review! However, I was advised not to expect a raise since I got a promotion a few months ago that bumped my income substantially. Thoughts??

Why do firms not use vested stock options as incentive in earlier stages of career?

Are remittances / gift sent from US to India (from post tax money) considered for any tax breaks or deductibles in the US?

Has anyone had success transferring Chase Ultimate Reward points to a friend? I see that only “household” transfers are allowed but don’t know if there’s leeway with the term. Worried chase might flag the accounts or stop the transfer if the billing addresses don’t match. The transfer is only for 40K

In your opinion which is the best target fund to choose in IRA Roth?

What platforms do you use for your investments?

I use Zerodha for brokerage and Kuvera/Coin for MF investments.

Off the topic.
Koi help kar sakte to get rent house near Manikonda/7 Tombs.
Budget: 13k

Looking into credit card, most likely between emirates nbd Bonvoy card or the Emirates offering. Anything better out there? What has been your experience. My understanding is you can convert the emirates points to Bonvoy? Not sure if the same works Bonvoy —> emirates.

When there is FUD you buy

Would ETH be the next BTC?

If I invest 50k in NPS, I would save 7k this year as per my tax calculation. Is this a good deal? In general, I don't like such long term investment, maybe I'd start that when I'm 35 but not today.

Any realtor recs? Looking to buy in Seattle

I have a return offer from a big 4! Thoroughly enjoyed the experience as an intern and have no complaints. Would love to go back.

However, a bit confused if I should try and recruit with MBB’s or if I should accept the big 4 offer already and take the sign on bonus?

Would it be a blunder to NOT try recruiting with MBB’s ? Besides the monetary aspect, what are the other things I’d have to think about?

Anyone who has been through both rounds at MBB - does case difficulty get any harder between round 1 and 2? Or is it just the level of interviewer?

What are some red flags you've noticed in the hiring process? I've finally landed an interview after weeks of applying. I think it went well on my end, but something about the managers I spoke with just feels...off.

I'm glad there's now a bowl for small business owners.

What are your top 3 challenges that you face?

I'll start. I own a wine business for background information.

1. Getting people to buy wine virtually
2. Shipping cost
3. Supply

Any idea what is consulting stream means at Wipro?

What CTC i can expect if i have 2 year experience as a java developer or network engineer?

Question : I want to change career from a support engineer to sales. Is that possible ? I have 4 YoE in technical support and want to change to sales.
Any ideas where to start, and what positions I should be looking for given I have not worked sales before ?

If your industry is severely impacted by covid, how is your leadership reacting? Are you seeing more cross-industry collaboration?

If anyone in DC area is looking for a great therapist.... i cannot recommend mine enough! I have seen several and she’s been detrimental in my getting better: Janet Wilson in Arlington.

What is the general CTC range at AM and DM level in Deloitte in Tax

Can someone explain KL Rahul to me?

To me he is Kitna L Rahul … never seen him perform in any important match but still vice Captain and always in the 11

When people think all I do are tax returns and I'm like "No, I do estimates and extensions too. You're just not rich enough for that"

Parking should really be reimbursed! Especially when its $20 a day.

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?

How you came into the company will define your path. That’s why you’ll never be successful switching departments.

Hello Fishes,

Which Is better company to join for optum or ey?

Thanks

What is up with the pet pics? Is it karma farming or spam? Either way kinda cringy, this is a bowl about job referrals.

New to Toronto, moved to the west end of town/ just past - in Etobicoke. I celebrate my 40th a few days after NYE/NYD - would love some recommendations on moderately priced but nice ambiance restaurants for myself + husband, and my extended family. Everyone is scattered throughout (Hamilton, Barrie, Lyle, Newmarket, North York). Don’t want anything too fancy but don’t really know where or what is good and not downtown.


Any recommendations? (Open to GTA of course).

Any ways to fake lta

Hi,

Kindly ping me if you need any help for filling up the ITR. I will help you to get maximum return.

Charges applicable.

Thank you

I have a question regarding taxation of joining bonus.

I recieved a joining bonus of 1 lakh from my previous employer in last fiscal year which was taxed.
I resigned from the organisation before completing 1 year... Which will be deducted from my last month salary.
How does taxation works in this case.

Can we show rent paying to parents if we are living with them.. Do company mandates that parents should be living in different city to qualify for such HRA exemption.

Hi,

Can we use 10(10AA) leave encashment as tax exemption if we separated from the Job?

Note: corresponding tax paid challan info available in form 16

Thanks

What are all the ways to save income tax?
CTC 9.8L

Anyone from tax can help me on some tax related queries.

Q1-Can I claim LTA and LTA cash voucher both for the current Block?
Q2- In LTA cash voucher scheme i have a total expenditure of only 50K approx so how much can i get as saving for Tax?
Q3 How the above 2 can be claimed during ITR filing?

I have more Questions but if we get replies on these we can discuss further.
This can help everyone

By investing 50k/annum in NPS I can save 15k tax per year.. Suggest me I should opt for NPS or not?

Hello fishes, can we buy land/plot to save long term capital gain tax?

Can I make rental agreement as paying rent to my dad for tax savings .. I would like to mention 46k per month as rent .. Please help .

My CTC is 21L and i have tax deduction for home loan at 1.5L and icici policy premium at 1.5L
How can i reduce my income tax in what all other investements ? Please guide me

If my company is deducting tax on reimbursements for example relocation, flight travel, mobile usage, etc. Then how to show in tax filing? bcoz as per my understanding it should not be taxable as I am using my money and company is refunding and no extra income. It's like I have already paid once and while refunding company again deducting. Please guide on this issue.

My Last working date at Wipro is 12th of june 2022, So How tax will be calculated for the financial year 2022-2023. My CTC is 8.4L
I will be working only 3 months for this financial year and in April month payslip i can see 6K deducted for tax and in the IT projection it shows around 30k tax deduction gonna happen. I will be joining another Firm in same june month
Please share how tax is calculated in my case and how to save taxes.

Base: 5 lakh
HRA: 2 lakh
Max how much I can exempt with HRA while filing ITR?
I live in my own house. I can pay to my parents in the name of rent.
What are the documents I need to produce?

Hi fishes,

My CTC is around 12 lpa per annum. How can i avail max tax benefits?

How to save tax for the money from freelance work? As i already have a full time job.

Hi Fishers,

DM me if anybody want to file ITR for last year, I will help you get good refund amount for whatever tax paid or deducted from salary during the financial year.

How much rent amount should I pay to get maximum tax deduction?