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Save tax when income above 50Lakh/1cr

CC-Muncher

TF Ace
VIP Lounge
If you have a friend who works for a political party, approach him. Donations to political parties are tax exempt. They'll take a small cut which will be less than tax paid and they will return remaining as cash.
I have heard about it. Its risky and the black money in cash is a big headache for you to spend...
 

jack333

TF Legend
Contributor
VIP Lounge
If you have a friend who works for a political party, approach him. Donations to political parties are tax exempt. They'll take a small cut which will be less than tax paid and they will return remaining as cash.
It won't work for salaried. Many salaried guys employing this route got notices last year. This route is the easiest way to get in the radar of IT
 

sxchzy

TF Legend
VIP Lounge
Esops or rsus will get taxed as soon as they vest.. As per my experience.

The companies j worked with, deduct 30% and vest whatever is left.

What you said about elon and company is grue, they dont take salary and they only rely on dividends. But that wouldnt be the case for commmon man
THEN he has no way out it seems
 

nomad

TF Premier
Esops or rsus will get taxed as soon as they vest.. As per my experience.

The companies j worked with, deduct 30% and vest whatever is left.

What you said about elon and company is grue, they dont take salary and they only rely on dividends. But that wouldnt be the case for commmon man
You are confusing exercising and vesting of an ESOP
Not sure about RSUs though
 

sxchzy

TF Legend
VIP Lounge
exactly my thought
exercising means redemption or liquidation
while vesting means ownership after lock in if i am not wrong
also not sure if any bank will give you funds for non vested shares
 

infinia_finally

TF Premier
VIP Lounge
If you have a friend who works for a political party, approach him. Donations to political parties are tax exempt. They'll take a small cut which will be less than tax paid and they will return remaining as cash.

This was what some folks did it and got caught.

 

Bugs Bunny

TF Ace
VIP Lounge
Once you reach to this stage, it is better to concentrate your valuable time on increasing the income in multiples
rather than wasting the same time in how to reduce tax liability ... This would be the practical approach I would take ..

Remember money makes more money and not to worry about taxes.. Hire a good CA, and focus on multiplying income sources...

We all have 24 hrs /day and fixed life span.. .
Death and Taxes can't be avoided..wherever you go in this world.

All the best
I wish to have such clarity of thoughts in my life. Do suggest some tips sir, if required can DM too.
 

techt

TF Legend
This was what some folks did it and got caught.

And there goes my dream of political party
Sad Homer Simpson GIF
 
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