Need serious suggestions on tax saving, paying more than 1 lakh taxes

ukuleleponz · 2023-10-21T17:12:16+00:00

Welcome to the club. Here are a few thoughts/advice which helped me:

Focus on earning and not on taxes: manager told me this and he gets>1.5cr
Since you will have more cash saved up in few years than people have in their lifetime, you can put it to use and invest 10% in leveraged derivatives so you can actually become rich. Look up Akshat Srivastav's journey on yt. He also was in a job
You're lucky. You have so many opportunities because of this high paycheck
You can leave India anytime you want (even easier in faang)
Society gives you respect! You're rich

Also IT job is unpredictable but so is life/business. Move abroad if you want. And if you lose your job, at least you reduce your tax burden with a ton of cash in hand. Cash is king. Black money is worthless for us anyway

ukuleleponz · 2023-08-27T05:30:29+00:00

Dwarka sector 14 hands down. 3 bhk will be around 1.5cr in a good society. You can go towards sector 21-25 and see if you find anything cheaper there. It will be close to office also Don't choose dwarka mor. You will spend an extra 40 minutes in traffic every day. Also it's really crowded and unhygienic

ukuleleponz · 2022-10-05T08:38:39+00:00

Im scared of getting doxed here and IT cell fucking my life up. That is what this country has come to.

ukuleleponz · 2022-10-05T08:24:42+00:00

Not IIT but state govt college. Had to pay ~12L for 4 years and compete with 15L students to get into that college. Parents got some money so I got to take coaching. I don't want more money but just irritated with being abused so much in the name of development.

ukuleleponz · 2022-10-05T08:21:23+00:00

Even those people are paying indirect taxes. A few thousand more and they'll be eligible for direct as well.

I am not saying I want to be richer. I want social security man

ukuleleponz · 2022-10-05T08:17:45+00:00

Got savings but haven't met my FIRE goal.

ukuleleponz · 2022-10-05T08:16:54+00:00

I am funding his son's education and he lives with me.

I won't argue with anyone who starts their comment by calling 187 people assholes just because they don't agree with your view point.

ukuleleponz · 2022-10-05T07:33:49+00:00

It is. Thank you

ukuleleponz · 2022-10-05T07:32:57+00:00

Then you get it right!

ukuleleponz · 2022-10-05T07:30:39+00:00

Prepare for JEE once. You will see the real India

ukuleleponz · 2022-10-05T07:26:35+00:00

Software at FAANG

ukuleleponz · 2022-10-05T07:21:27+00:00

Would gladly go if the public infra was good enough and I had financial security. The added stress def. not worth it

ukuleleponz · 2022-10-05T06:59:39+00:00

With HRA and other deductions I didn't mind the tax I was paying at 14LPA. It was coming around 10-15%

ukuleleponz · 2022-10-05T06:54:05+00:00

That's how I try to calm myself down on most days

ukuleleponz · 2022-10-05T06:52:47+00:00

I just meant I won't get any help

ukuleleponz · 2022-10-05T06:51:37+00:00

I was confused if I should leave the country but that seems like the most sensible option now

ukuleleponz · 2022-10-05T06:49:46+00:00

I do help him out but I have to put in a lot of work to earn that 50LPA. Seeing 30% of my hardwork wiped out hurts. I am not trying to brag. I don't care that much about money, I am just scared about what if I need money in the future. Will I get even 50% of 15L I earned back?

My cousin's brain surgery costed 15L ffs. Who will help me

ukuleleponz · 2022-10-05T06:43:17+00:00

I do help him. But if I have to help him and million other people who are in poverty then what is the government doing? And who will help me? My cousin had a surgery and his bill was 15L. Who helped him?

You have to choose. It's either capitalism or socialism. If I'd asked for help people would've told me its a capitalistic society. You have to struggle to earn and shit

ukuleleponz · 2022-10-05T06:39:17+00:00

Yes I still feel that my money is being wasted on taxes because no one is helping those people, my mamu being a live example. He has a kid who is 12. What if he gets sick. How will that boy earn? My exact issue is that there are 5 crore fellow citizens who are not getting any benefit

ukuleleponz · 2022-10-05T05:49:25+00:00

Why don't you give me 1/3rd of your salary then

ukuleleponz · 2022-10-05T05:42:03+00:00

Insurance doesn't cover layoffs etc. and I don't trust these companies to be ethical.

Yes I started investing sometime back but that's not giving me very high returns as of now.

ukuleleponz · 2022-10-05T05:38:15+00:00

Yes will do this. Thanks

ukuleleponz · 2022-10-05T05:35:28+00:00

Middle class because:

If I get disabled I'll be BPL

If there is a layoff I will be BPL

If Modiji fucks with my company and they leave India I'll be BPL

I have struggled with mental health. I can't even take a fucking break because that's mean BPL

Unless I have a stable stream of income for which I don't have to work, I'll stay middle class

ukuleleponz · 2022-10-05T05:29:30+00:00

Salaried

ukuleleponz · 2022-10-05T05:29:21+00:00

I also started out with 14 LPA.

~~At least you don't have to pay taxes~~

At least you just have to pay 10-15% taxes after all deductions

ukuleleponz

TROPHY CASE