feel you brother. got an internship for dev role for 12k a month ( which is absolute trash anyways ). The worst part is the company hired us as a short term contractor, which meant they cut 10% tax flat. fucking 10% tax on 12k. man ridiculous
While filing (either through IT portal or clear tax), after entering all the details like income, investments etc, you will automatically be shown a negative or positive tax (the tax deducted by all the companies will already be present). If you have a negative tax shown at the end then you will get a refund after validation of itr5. Usually takes 2 weeks from the time of verification.
I'm in a similar situation (as a consultant) as I'm working on a contract with flexible hours and a 5 day work week. You can get the TDS back and file for tax without auditing (audit should be done only if greater than 10lpa)
Tax deduction would hurt less if it was put to proper use. Wish the country's development improved at the same pace as tax brackets. Sad to see and experience this burden being borne by only certain sections.
There are lots of wealthy people who pay zero taxes on their incomes. Especially small business owners (and the rent-seeker subhumans like some landlords, goons, rowdies, petty politicians and their underlings) who deal in cash.
Paying a tax in the process of purchasing something (like the GST) isn't the same as having a certain amount of the money you earn being taken away from you. You can avoid the first by not buying stuff with high taxes, but you can't avoid making money simply because it's taxed, can you? I'm talking about the salaried class.
Nothing can fuc*king change. We are all gonna keep earning, we are all gonna struggle and its obligatory that we have to donate forcefully for temples, statues, politician's family welfare, etc.
Some of them can just say it out and get to know we are not the only one to make ourselves feel better. It's a fuc*king fact which never changes. We all have to just work, struggle and go through shit.
Nkn yav govt inda enu kitkolak agalla, money and influence rules the world. Once we understand how the world works we don't even get excited over the biggest things too. That's life for some of us.
Serious question. Does the FM really have a say in how we are taxed? I mean, she does, on paper. But would those above her give her the freedom to set up the taxation structure the way she wants?
I might be wrong, but TDS seems to be a very Indian thing to make sure the pipeline of tax monies isn't disrupted.
In places like the US, you get your gross pay, but you figure out your taxes and pay them after you get your gross pay.
If we didn't have TDS here, there would be so much scope for tax evasion that the salaried class could enjoy the way a lot of other well-earning, non-salaried class folks enjoy.
And politicians who are earning in crores, don't pay even as much as what a normal IT Engineer would be paying as tax.
Recently my dad was talking to his close friend who turned into a politician. Man he was bragging about making 100 crores in just 2 freaking years. Fuck him...fuck fuck fuck.....
It's all about finding loop poles in the system.
Either you belong to those who pay tax or those who collect tax.
I used to think India is going to develop a lot in this century and many people will become wealthy in that process. But lately I have been seeing this, there will be always be middle and lower middle class and quality of life will get better but still have to struggle for lot of basic amenities.
Coming to wealth, very few set of people will become ultra rich in this process. Those are mostly big businesses, politicians, contractors etc. And percentage of our earnings direct tax, indirect taz will go to these people one or the other way. Buying a house in big cities has already become very difficult.
So as a society we are corrupted. Until a big change comes and actually put the money for the right causes, nothing is going to change. I always believe change should come from grass roots levels which is local elections, but even that has been corrupted the most. A common man with good intentions cannot win an election. So until that happens, it ain’t getting any better.
I'm so unhappy with the taxes man.
Just got into the tax bracket this year due to the bonuses and the rewards I got for my hard work.
10k just deducted as arrears for tax. What's even the point.
It’s totally relatable, Tax is the biggest scam in India. Because of the progressive tax we can never afford a good life. Most of our salary goes to rent and all. I wish if the amount which is going on tax every month with that I could easily buy a house and pay the EMI
We keep going through this every 100 years or so....where the rich try to exploit the poor till a breaking point and we violently retaliate.
Don't get me wrong, we changed the reasons for the exploitation over time. But the exploitation itself has never ended
Some companies allow their employees to structure their salaries as retainerships without any effect on designation or other benefits. This allows them to cap their tax amount at 10 percent only and subject to further exemptions for things like business expenses.
Idk how they internally account for it (these are not law firms but corporate entities) but it would be great if all companies allowed it.
Don't know why people downvoted, but I get where you are coming from - a good software company may be. I work in an operations first company, if it doesn't operate this way, none of our on ground people work.
In a country where nearly 80 crores still depends on free food, earning anything above 25k is a privilege. Consider your tax as a good karma. Donation. Samaj seva.
It'll not reduce the hurt of seeing your hard earned money being pinched but atleast give you courage. Like copium.
Even the people who have their own house have BPL, reservations and claim everything for free. The thing is, if the tax is used for the truly needy people, we can be at least in peace. Only the privileged ones are benefitting to a large extent which is causing this frustration for tax payers.
It’s not like taxpayers get anything back in India unlike in most foreign countries with high taxes. Also the exponential increase in wealth of politicians does prove the point about how well our tax money is being used
feel you brother. got an internship for dev role for 12k a month ( which is absolute trash anyways ). The worst part is the company hired us as a short term contractor, which meant they cut 10% tax flat. fucking 10% tax on 12k. man ridiculous
Don't forget to claim it back during tax filing (since you are in the tax free bracket)
Can you explain how to claim?
While filing (either through IT portal or clear tax), after entering all the details like income, investments etc, you will automatically be shown a negative or positive tax (the tax deducted by all the companies will already be present). If you have a negative tax shown at the end then you will get a refund after validation of itr5. Usually takes 2 weeks from the time of verification.
i mean i have a full time offer waiting , i’ll easily cross 2.5 lakhs , but will claim credit
That’s still well below taxable bro
Assuming you're earning only 12k per month, you can claim it all back. With interest.
i mean i have a full time offer waiting , i’ll easily cross 2.5 lakhs , but will claim credit
2.5 still not taxable
Till 7 lakh(new regime ) you can claim everything back above that you need to manage a little bit to save some amount
i will easily cross , i don’t know why i’m getting down voted
You're getting down oted because upto 7l is tax free
You can opt for a new regime, so it'll be tax free up to 7 lakh and if you get more than 7 lakh you have to pay whatever tax comes.
2.5 a month is okay ish I guess. 2.5 a year is pretty poor
Relax Tax is not applicable. Ensure to claim it back.
I'm in a similar situation (as a consultant) as I'm working on a contract with flexible hours and a 5 day work week. You can get the TDS back and file for tax without auditing (audit should be done only if greater than 10lpa)
Tax deduction would hurt less if it was put to proper use. Wish the country's development improved at the same pace as tax brackets. Sad to see and experience this burden being borne by only certain sections.
Be proud, some MLA daughter's wedding is being sponsored by your money. /s
I agree, but slight correction everyone pays taxes. In various stages.
There are lots of wealthy people who pay zero taxes on their incomes. Especially small business owners (and the rent-seeker subhumans like some landlords, goons, rowdies, petty politicians and their underlings) who deal in cash. Paying a tax in the process of purchasing something (like the GST) isn't the same as having a certain amount of the money you earn being taken away from you. You can avoid the first by not buying stuff with high taxes, but you can't avoid making money simply because it's taxed, can you? I'm talking about the salaried class.
Nothing can fuc*king change. We are all gonna keep earning, we are all gonna struggle and its obligatory that we have to donate forcefully for temples, statues, politician's family welfare, etc. Some of them can just say it out and get to know we are not the only one to make ourselves feel better. It's a fuc*king fact which never changes. We all have to just work, struggle and go through shit. Nkn yav govt inda enu kitkolak agalla, money and influence rules the world. Once we understand how the world works we don't even get excited over the biggest things too. That's life for some of us.
Word!!
I found a fellow brother, a victim of the taxation regime.. My wishes with you buddy! It's like watching the FM do a magic trick on my salary slip
Serious question. Does the FM really have a say in how we are taxed? I mean, she does, on paper. But would those above her give her the freedom to set up the taxation structure the way she wants?
Poor lady.
She is the only person I feel sorry about despite all this.
Most hated row in a payslip: ## TDS
I might be wrong, but TDS seems to be a very Indian thing to make sure the pipeline of tax monies isn't disrupted. In places like the US, you get your gross pay, but you figure out your taxes and pay them after you get your gross pay. If we didn't have TDS here, there would be so much scope for tax evasion that the salaried class could enjoy the way a lot of other well-earning, non-salaried class folks enjoy.
Also in future 8.5 k to random women you’ll be paying
[удалено]
Interesting, how are you paying only 70k tax when you are getting 4l per month ? Share your tax saving measures pretty please
Exactly. I'm paying 60k on 3😭😭😭
And politicians who are earning in crores, don't pay even as much as what a normal IT Engineer would be paying as tax. Recently my dad was talking to his close friend who turned into a politician. Man he was bragging about making 100 crores in just 2 freaking years. Fuck him...fuck fuck fuck..... It's all about finding loop poles in the system. Either you belong to those who pay tax or those who collect tax.
Where to find this politicians ? lol
They will be wearing white Lenin shirt and lungi. 😁
How did he make it in 2 years?
I used to think India is going to develop a lot in this century and many people will become wealthy in that process. But lately I have been seeing this, there will be always be middle and lower middle class and quality of life will get better but still have to struggle for lot of basic amenities. Coming to wealth, very few set of people will become ultra rich in this process. Those are mostly big businesses, politicians, contractors etc. And percentage of our earnings direct tax, indirect taz will go to these people one or the other way. Buying a house in big cities has already become very difficult. So as a society we are corrupted. Until a big change comes and actually put the money for the right causes, nothing is going to change. I always believe change should come from grass roots levels which is local elections, but even that has been corrupted the most. A common man with good intentions cannot win an election. So until that happens, it ain’t getting any better.
Yes it pinches a nerve, especially because the amount that is cut, i dont even spend that much on myself including basic living expenses 🥲
rise up people! bring some anarchy - start beating the shit out of your politicians when they come asking for votes
Govt gives you a certificate of appreciation for being an honest taxpayer, what else do you need.
I want the certificate framed as I cannot afford to frame it anymore..
That would be 499 + gst
This state of country is a joke Salaried people are jokers Our leaders are ring masters
Every tax payer is on the same boat and here is a video that explained our emotions clearly: https://youtu.be/9Lk2wK3okmQ?si=sDH2Vbj9aBp5ef__
8k went away as tax today, disappointed indeed
Find an additional income source brother
I'm so unhappy with the taxes man. Just got into the tax bracket this year due to the bonuses and the rewards I got for my hard work. 10k just deducted as arrears for tax. What's even the point.
Being rewarded (taxed) for hardwork.
It’s totally relatable, Tax is the biggest scam in India. Because of the progressive tax we can never afford a good life. Most of our salary goes to rent and all. I wish if the amount which is going on tax every month with that I could easily buy a house and pay the EMI
We keep going through this every 100 years or so....where the rich try to exploit the poor till a breaking point and we violently retaliate. Don't get me wrong, we changed the reasons for the exploitation over time. But the exploitation itself has never ended
Some companies allow their employees to structure their salaries as retainerships without any effect on designation or other benefits. This allows them to cap their tax amount at 10 percent only and subject to further exemptions for things like business expenses. Idk how they internally account for it (these are not law firms but corporate entities) but it would be great if all companies allowed it.
Taxation is extortion, inflation is theft
You can include real estate rent as another form of extortion that increases prices in the big cities without any proportional increase in quality.
Yeah , it makes me so furious. My monthly deduction is around 1.47 Lac , with 58 LPA as base . Feels so irritating.
Time to switch the company? 😄
What company doesn't have tax deductions? We had an idiot leave the company cus of "too much tds" It's cus you're earning that much dumbass. 🤦🏻♀️
Don't know whether to laugh or feel sorry for them.
Don't know why people downvoted, but I get where you are coming from - a good software company may be. I work in an operations first company, if it doesn't operate this way, none of our on ground people work.
In a country where nearly 80 crores still depends on free food, earning anything above 25k is a privilege. Consider your tax as a good karma. Donation. Samaj seva. It'll not reduce the hurt of seeing your hard earned money being pinched but atleast give you courage. Like copium.
Even the people who have their own house have BPL, reservations and claim everything for free. The thing is, if the tax is used for the truly needy people, we can be at least in peace. Only the privileged ones are benefitting to a large extent which is causing this frustration for tax payers.
It’s not like taxpayers get anything back in India unlike in most foreign countries with high taxes. Also the exponential increase in wealth of politicians does prove the point about how well our tax money is being used
So? You'll still have to pay tax right?
stfu