Save tax when income above 50Lakh/1cr

[CC-Muncher]

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...

 

[Walter White]

I have heard about it. Its risky and the black money in cash is a big headache for you to spend...

OP ne pucha tax kaise bachana hai. Bas itna hi maine answer kiya hai. Baaki cash ke saath kya karna hai OP handle kar lega. 😂

 

[CC-Muncher]

OP ne pucha tax kaise bachana hai. Bas itna hi maine answer kiya hai. Baaki cash ke saath kya karna hai OP handle kar lega. 😂

Sahi baat hai

 

[jack333]

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

 

[CC-Muncher]

It won't work for salaried. Many salaried guys employing this route got notices last year

Bahut risky hai... Badi party ko dene se cut bbi jyada jayega
Choti party kam cut legi par risk bhi utna hi

 

[Deleted member 11974]

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

 

[sasha]

Any comparison for new and old tax regime with option to enter HHRA, 80C, NPS etc

 

[Tejo]

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

Not if that party is in central. 😅

 

[nomad]

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

 

[Deleted member 11974]

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

 

[SHUB11]

You are already making too much money. Dont waste your time here

 

[infinia_finally]

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.

Many get caught in taxman's net for using political donations to evade tax

The first leg of the transaction --- where money was donated by cheque or electronic transfers with the donor receiving a receipt from the political party --- would come across as legitimate donation. It allowed donors to reduce their taxable incomes by claiming full deduction of the amounts in...

m.economictimes.com

 

[Bugs Bunny]

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.

 

[SSV]

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

Sure. The underlying principle is to keep everything simple..

 

[Aniket]

create shell corps and transfer all profits to those shell corps and locate them in tax heavens such as panama

Jis din corporate veil lift hoga uss din pata chal jayega 🤣

 

[Aniket]

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.

100% deduction 😉

 

[Bugs Bunny]

Sure. The underlying principle is to keep everything simple..

Messaged, three words

 

[Deleted member 11974]

Jis din corporate veil lift hoga uss din pata chal jayega 🤣

funny of you to think billionaires will readily get taxed anyday

 

[HumorSimpson]

This was what some folks did it and got caught.

Many get caught in taxman's net for using political donations to evade tax

The first leg of the transaction --- where money was donated by cheque or electronic transfers with the donor receiving a receipt from the political party --- would come across as legitimate donation. It allowed donors to reduce their taxable incomes by claiming full deduction of the amounts in...

m.economictimes.com

And there goes my dream of political party

 

[knight]

Check this out once. I had bookmarked it for the day when I start earning 50L+. But looks like you need it more than me for now 🤣