People with around 30LPA , how much tax do you pay in a year and what are the investments you make to save max tax?

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

Monthly 50k going for tax. Except ppf, hra,medical premium nothing I have done investments. Anyone can give suggestions..

like

NPS, Home/education/electric vehicle Loan, medical insurance

like

+1

any idea for claiming HRA ? living with parents so not paying any rent

Second part of his question is still unanswered. How to reduce the tax paid.

Related Posts

Best way to get a home improvement loan? Any red flags/tricks to know? Is it worth it if o have the cash (would wipe out a lot of savings). Kitchen and removing walls is about $80k

like

I am not able to upload my tax declaration details from the greyHR portal. It is showing an error message since morning. Is there anyone else who is facing the same issue

likefunny

How much money do you keep in your savings account?

like

Random Q unrelated to advertising but is anyone investing through Fidelity? And what mutual funds/stocks are you investing in that show potential?

like

How does one get into trading from positions elsewhere in the bank? What would impress you most about candidates attempting to do so?

like

Best resources/books on getting personal finance in order?

like

Which luxe car do you own/ lease? I’m gravitating towards leasing a Mercedes.

like

Is it too late in our lives to jump into a mortgage?

So my fiancée and I are relatively late in terms of finally landing well paying jobs and being able to save money instead of living paycheck to paycheck. We’re both 36 and currently rent a 2 bedroom in NY and have a combined savings of $35,000 which she wants to use as a down payment on a condo. I kinda just wanna continue saving while renting. I also literally just started contributing to my 401K so I’m also late in the game for that too.

helpful

Can someone explain the LTA policy? What happens if I don't claim any travel bills? Can I claim it as a taxable component monthly?

like
like

Looking for a lawyer for get prenup done. Any recommendations will be helpful

likefunny

Can anyone tell me where I can declare a home loan in the Payroll portal?

I am a little confused...

like
like

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

likeuplifting

Any loan facility available in BOA

like

What's your favorite story helping someone buy a home? I'm going through the process now and it's so stressful. I need a little positivity :)

likeuplifting

Once a crypto becomes deflationary, and in theory the mining process ends, how are transactions secured without that computing going on?

Hi guys,

I got my full and final settlement today but I can see no tax deduction. Does anyone know the reason. 4k tax used to be deducted every month till now. I also got gratuity and leave encashment along

like

Haha Merrill just reduced the pc payout grid by 3% for advisor below $2m in production

like

Bucks County, PA. Depending on size of book can purchase immediately or being a longer term succession plan.

More Posts

Any job openings?
skills - core java springboot microservices
yoe 6.10

like

Hello Guys,

Could please name the PSU BANK projects with EY ?
How is the work load in PSU projects ?

like

I recently joined EY GDS. May I know what will be the in-hand salary if the fixed salary is 12.5 LPA?

like

Hi, can anyone please let me know whom I should contact to receive my ID card from FIS? I joined few months back and I still haven't received my ID card.
Thank you

like

I recently graduated college last year and am trying to pursue certifications to help build up my resume. I currently hold an AWS SAA certification and Azure AZ -900. I am looking to try and obtain the CISSP next. Is there something else I should start with before diving into CISSP or should I direct my studying and focus in that direction?

like

So who else here is experiencing plummeting billable hours and exponential weight gain since this whole WFH thing started? Bought snacks for 30 days, finished in 48 hours.

likefunnysmart
like

AMERICAN EXPRESS India is hiring for UI Engineer role.
Title: UI Engineer – React, JSON, Cloud Engineering -21018062
Experience: 5+ years

JD screenshot is attached.
If interested, kindly DM me

Post Photo
like

Any Deloitte fish know what the Director level role is like? We don’t have that in the US firm. Is it effectively a SM?

like

Hi Fishes,

What is the difference between Siemens and STSPL? Are they same and has same work culture , salary slabs, benifits and WBL?

like

What is the salary range for c12(avp) in Technical role (Java Backend)

like

Hi All, just sharing what on mind to vent it out from my system. Maybe with this I could gain some insights and inspiration.
I have been working as a data scientist since 2018 & have been the bread winner. I have neither been under a proper mentor nor with a team of peers from my field to help me out. I was alone and confused. I have never really got the chance to prove myself which makes me all the more depressed. I'm not sure what to do with my future, indecisive and low on confidence.

like

Is there any industry recognition for poc creatives the way adage and others recognize creatives?

like

How do I effectively utilize my special ed ea?

like

Angelenos - is it still worth it to transplant from NYC? I know with everything going on, it's a mixed bag, but I'm feeling the move. What do you think? Is LA still the best?

like

Hi Fishers,
I have 4 years experience in manual testing.
How do I move into Automation testing.
What to study? Is selenium good to study in terms of long term

Hi. Looking for referrals at Salesforce. Happy to jump into a call to discuss my candidacy. Thank you! 🙏🏽

like

I am currently working mostly in Data Analytics, but I want to transition into Data Engineering. I've applied to a couple Data engineer positions but it seems I don't have the qualifications for them. Should I maybe look for Jr. Data Engineer positions to get experience and try to move up from there? If so anybody know of any Jr. Data Engineer positions available?

like

Currently at a medium sized firm but want to make the jump to big law - doing Plaintiffs PI and just need some advice on how to make myself more attractive to larger firm.

like

I have to give SAP ABAP on HANA Certification this month. Anyone who has latest dumps for these, please let me know.

like

Additional Posts in India Tax

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?

like

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

like

In case anyone needs help with their Tax returns, please feel free to DM me.

like

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

helpful

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!

like

Kindly suggest the best ways of saving maximum tax for this CTC :) :)

Post Photo
like

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

like

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?

like

My company has asked for investments proofs. Jts feb only and i have upcomming mutual funds sip also. How can i show these upcomming sip investments ?

like

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?

like
like

How much tax will be deducted on 18lpa fixed salary (1746800 in hand after epf deduction)? Even after investing 1.5 lacs in 80c.

like

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?

like

Could anyone please tell about NPS CCD(2) ? Is it paid by employer? What needs to be done in this?

like

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

like
like

Hi,

I just want to know a fact , upto which ctc can be adjusted to minimal tax deduction under new slab?
Like 15lpa ,20lpa

like

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

like

Hi All,
I recently learned that we can get our PPF limit from 1.5Lakh per year increased and so does it increase in 80C. Is that true? And if yes, how can it be done?

like

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 ?

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