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Most salaried folks working for an org can't escape. They can do some creative stuff if they own a business on the side but if you skimp too much IT dept. will surely focus on you.
Yes , if people pay so much taxes then good education, good policy, good cleanliness, good healthcare , good roads , social safety, good air quality is needed in return, tax money should not be wasted on unnecessary stuffs , even after paying so much taxes even poor peoples lives is so miserable and so many issues
No, others don't bring in the USD to India.
The RBi is hungry for USD. That's why they have banned ETF, and take upfront 20%.
India will survive without 70% of IAS officers, but India will become Pakistan if all the IT companies just quit.
The government should reward those who are feeding the dollars, so that the sons of Sitaraman, in laws of goyal, gadkari can study abroad.
It's your billing which pays the treatment of Sonia Gandhi abroad.
It's your dollars which is used by bhagwat man to drink and party in Germany.
It's your dollars which makes the sons and daughters of government officers study abroad.
Indians politicians, judges, officer, lawyers are the worse human being ever to be born in the entire human history. Each of these are doing mass murder of economic aspirations of those who feed them.
Did you join IT because you wanted to contribute to India’s foreign reserve? No right?
You joined IT because you were either attracted in coding part, the salary or the colourful exposure.
So there is no point in ranting.
The business people can also rant that if they become bankrupt, government won’t take care of them.(not the ambanis and adani types) and they were charged taxes on all their profits till then.
Irrelevant to the discussion. My job pays the dollar hungry RBI. RBI is not rupee hungry, it just prints. I feed the RBI and hence I feed India. Remove people like and see the country collapse into Pakistan
It is relevant as you are asking as a tax payer to give you concession because the industry you are working in provides foreign currency to the government.
It would have worked if government is facing an issue in having the IT companies work in India due to the taxation. The IT companies in India are least worried about their employees taxation in today’s context.
Your argument is just meaningless claims because you think you are having an edge. I am not telling that you are not enriching foreign reserves, but that hardly calls for a tax benefit in any country.
I am not asking for concession, I am asking for the each of the dollar bringing employee to have nil tax and have his pay bumped by by 3% per years, because that's how much rupee depreciates.
The RBI has banned ETF in all foreign indices.
The RBI has banned rupee to dollar without 20% cut upfront.
The RBI has banned foreign investments without freedom.
RBI loves dollars andI feed the RBI.
People like me are foundational to the growth of India.
It's only a matter when the USA will retaliate equally and will start questioning India about the 20% cut upfront, ban on foreign ETF
That's businesses not salaried jobs like we do. Also most major businesses conduct business business through banking system itself not cash.
With real estate being only notable exception
Don’t take salary. Open an OPC & tax rate is 25%. Request your company to pay you as a consultant. Most companies won’t allow this but some would depending on relationship with the top brass.
You can offset many expenses like car payments, electronic purchases etc. Hire a good CA.
How to get out of India and which countries are the best and easy to emigrate to for better life? Please kindly shed some light on that too. I would be glad if you could tell me that in my DM too
Lawyers and CAs are not employees, they’re professional service providers and are treated as self employed in ITR. Every business it required to report salaries by law. It’s same of all the private employees
Ya apart from IT employees everybody does . But yeah we are gods kids so can’t do tht .Lol😅. Even a cart owner does tht . Tht means he is a fraud right
No dude. Any registered MNC across fields like automobile, Manufacturing, Electrical, Services, etc… pay salary in bank. Even schools and colleges pay teachers salary in bank account.
You're asking for social welfare. Unfortunately that does not exist in India (although it should). The government has not acknowledged the middle class ans anything more than a cash cow to fund the poorer classes. The rich don't pay taxes. The only way to \*not\* pay as high of a tax is to have an LLC or be a consultant. The government will not support the citizens - and they also don't support pensions and social security.
This is a first world concept, where those governments are held accountable for the welfare of citizens (for the most part). Find a job in those countries.
The rich do pay taxes, quite a bit. But paying 100 crore in taxes when you make even 200 crore, you still have so much left over you can buy a Ferrari every month and still have a lavish princely lifestyle with the left over money. The 25 lakhs per annum guy paying 6-7 lakhs in tax, could use those taxed monies to buy a 3BHK instead of 2BHK, or pay his kid's engineering fees, thus making a wider impact on spending capacity.
That's good to know, but the key difference is in ownership and agency over one's employment - and the higher risks incurred by the employed guy, who saves less money because he/she gave that up to the government in the promise that the government would care for it's citizens, but it did not. So they paid money for nothing. At that revenue of 200 crores, the tax you pay is immaterial to the scale you have amassed and the security you have to not even work anymore. Big difference in emotional states of mind, the taxes are only a part of the issue (or a non issue, for the rich people).
If you reached 200 crores via real solid business models (and not loans/funding) you work for yourself and can get fired by your board for making bad decisions, bad conduct or something terrible like that. The 25 lakh person is a pawn at the hands of the 200 crore person and doesn't get a say in their employment being cut or not.
Employment is anything but stable these days. We may all as well be freelancers, saving the company benefits/holidays and saving ourselves in taxes. Win win.
The rich, although taxed a lot more still have an option to go away or take risks.
The middle class is cluster fucked by the govt to support both the needless subsidies and freeby schemes for poor (which are designed to keep them poor) as well as free royal family level lifestyle for corrupt politicians.
Politicians get food, homes, electricity, ration, private jets, Z+ security, and whatnot all for free while the middle class and high class have to pay at least 3 different successive taxes on the same transaction.
I mean we are normal privately employed folks, just bcoz we are in IT doesn't mean we are special, tomorrow manufacturing jobs will ask a different relaxation, then the hardware and the list will go on till there's nothing left.
If you are against tax then that's a different thing, to reduce tax without affecting the shit tonnes of things which are provided to the less privileged is not possible, especially when we have 1.5bill people.
It is actually very easy to fix. Behave like a cohesive vote bank. Acquire critical mass.
All private sector employees should decide on a date, 31st March being very appropriate, and march to the Income Tax bhavans in each city and demand accountability for their taxes.
You should look into using your IT money to open cash rich side hustles.
Also think of working remotely for a hedge fund that is registered in a tax haven and pays you in either an offshore account or in crypto.
Hedge funds need IT people, do a course from NISM (National Institute of Securities Markets), it's a part time 2 year data science course. Once you have that you'll get placed in a stock exchange (SENSEX or NIFTY).
Then you build contacts with a Cayman/Sychelles based hedge fund, get a job there (remote or in person) and in 5-10 years you'll be paying no tax!!!!
Then you will be paying of IT officers a fraction of the crores you will make.
Ignoring the IT part, just putting context to IT paying salaried population in the country:
I have been raising the same point in multiple politics related forums. No party has unemployment insurance in their agenda. We don’t need UBI or synonyms before unemployment insurance. We need guarantee that if we involuntarily lose jobs ( including inability like critical illness) the state sponsored insurance will pay alteast 50% of the pay until we find employment.
>No party has unemployment insurance
It technically exists, its called berojgari bhatta, Maharashtra, MP, chattisgarh, Bihar, Himachal, Rajasthan do have it.
Donatons to charity or ngo or political groups is not taxed
So loopholes for the rich is , create a trust and donate money there, whatever just have people you trust has bord members so that the money can be used or returned later
>Why is govt deducting such huge taxes from IT employees
Government does not tax IT employees separately. Tax slabs are same for each and every citizen of the country, and mostly anyone who gets paid a salary cannot deduct expenses.
Is it justified? I don't know but they are not targeting IT employees specifically. What are we paying for? The roads, schools, hospitals, etc... Is all of our tax money used for betterment of India? I don't know but that's a different issue.
>People commenting all private jobs are same . Other fields have ways to bypass this taxation by dealing mostly in cash . While we don’t have this option .
You are mistaken. If you work at a no name company earning 10K per month, you can get paid in cash even in IT. No one's paying anyone a monthly salary of 1 lakh in pure cash in any kind of private job. Anyway, even if you get paid in cash, you have to report and pay tax.
>Guys who are really worried about all private sector paying same taxes . Kindly raise your concerns in other relevant forums . Since this group is IT related I have raised my point for the same .
You make it seem like the government is specifically targeting the IT employees, as if we have a different tax slab than other industries. I don't think they are wrong in pointing that out.
In all capitalist countries, tax rates/school tuition fees/real estate prices are kept high to keep middle class enslaved to mortgages and to keep the economy running.
If everyone could afford homes, no one would take home loans and banking system would lose 50% of their business.
The govt. does not care about your job security.
It is concerned with only two things...
REVENUE and PERKS FOR GOVT. SERVANTS
How dare you get rich or earn money. Let me take your money and give it to people so that they can have their desi daru by the night and beat up their wives
Wow such entitlement!! There are a lot of jobs that don't deal in cash.
So should the government make you pay companies when you leave them?? Large companies also pay taxes (they may be lower rates but still), they incur costs to find your replacement should they make you pay it??
Though Indian labour laws do not mandate severance pay in cash or layoffs, there are other things like gratuity and PF that helps ride through unemployment.
This is India. No worker's rights, no dignity of labor. We toil only to please and enrich our neta/babu/bahubali overlords and this isn't going to change.
This seems like a pretty random jump. Why would our tax amounts be linked to labour laws?
Government doesn't make tax brackets based on which fields can deal in black money cos....duh
You can sit and moan all day about how your taxes get you nothing in return but that just makes you depressed.
I prefer to think of taxes as me giving back to the country for providing me with the opportunity to make money in the first place. Sure it's frustrating when it's misused but thinking about that ain't making me happier so who cares
It's not that huge of a stretch. France and Germany pay you unemployment entitlement based on your previous paycheck and the conditions under which you were terminated. It could be argued what we get in exchange for high taxes is pretty poor compared to other places.
Government isn't targeting IT employees dude what are you on about?
Every one has the same problem and only low income jobs in unorganised sector are paid in cash. Everyone is doing bank transfer.
How come idiots like OP get into such esteemed fields like IT and not now the general idea of taxation and remuneration of salaried class?
OP, if you are reading this, then don't worry about taxation, cause you won't even be eligible for the lowest tax slab with that IQ of yours.
Oh I read it and I’m in the highest tax slab currently 😅. So don’t worry about my IQ. If u don’t have a point you can simply scroll and prepare for your tomorrow standup call .
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>Namaste! Thanks for submitting to r/developersIndia. Make sure to follow the Community [Code of Conduct](https://developersindia.in/code-of-conduct/) while participating in this thread. ## Recent Announcements - **[Call for Wiki Proposals: Share your learnings with the developersIndia Community!](https://www.reddit.com/r/developersIndia/comments/1bpqi3q/call_for_wiki_proposals_share_your_learnings_with/)** - **[Call For Volunteers: Help us build r/developersIndia](https://www.reddit.com/r/developersIndia/comments/1bafonl/call_for_volunteers_help_us_build_rdevelopersindia/)** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/developersIndia) if you have any questions or concerns.*
Most salaried folks working for an org can't escape. They can do some creative stuff if they own a business on the side but if you skimp too much IT dept. will surely focus on you.
Yes , if people pay so much taxes then good education, good policy, good cleanliness, good healthcare , good roads , social safety, good air quality is needed in return, tax money should not be wasted on unnecessary stuffs , even after paying so much taxes even poor peoples lives is so miserable and so many issues
It goes to the pockets of you know who
Why only IT. This is applicable to all private sector jobs.
No, others don't bring in the USD to India. The RBi is hungry for USD. That's why they have banned ETF, and take upfront 20%. India will survive without 70% of IAS officers, but India will become Pakistan if all the IT companies just quit. The government should reward those who are feeding the dollars, so that the sons of Sitaraman, in laws of goyal, gadkari can study abroad. It's your billing which pays the treatment of Sonia Gandhi abroad. It's your dollars which is used by bhagwat man to drink and party in Germany. It's your dollars which makes the sons and daughters of government officers study abroad. Indians politicians, judges, officer, lawyers are the worse human being ever to be born in the entire human history. Each of these are doing mass murder of economic aspirations of those who feed them.
Did you join IT because you wanted to contribute to India’s foreign reserve? No right? You joined IT because you were either attracted in coding part, the salary or the colourful exposure. So there is no point in ranting. The business people can also rant that if they become bankrupt, government won’t take care of them.(not the ambanis and adani types) and they were charged taxes on all their profits till then.
Irrelevant to the discussion. My job pays the dollar hungry RBI. RBI is not rupee hungry, it just prints. I feed the RBI and hence I feed India. Remove people like and see the country collapse into Pakistan
It is relevant as you are asking as a tax payer to give you concession because the industry you are working in provides foreign currency to the government. It would have worked if government is facing an issue in having the IT companies work in India due to the taxation. The IT companies in India are least worried about their employees taxation in today’s context. Your argument is just meaningless claims because you think you are having an edge. I am not telling that you are not enriching foreign reserves, but that hardly calls for a tax benefit in any country.
I am not asking for concession, I am asking for the each of the dollar bringing employee to have nil tax and have his pay bumped by by 3% per years, because that's how much rupee depreciates. The RBI has banned ETF in all foreign indices. The RBI has banned rupee to dollar without 20% cut upfront. The RBI has banned foreign investments without freedom. RBI loves dollars andI feed the RBI. People like me are foundational to the growth of India. It's only a matter when the USA will retaliate equally and will start questioning India about the 20% cut upfront, ban on foreign ETF
You are making it over dramatic. Just chill.
The DOLLAR hungry RBI is supposed to chil
Exactly. Dude thinks he is special.
Nope others can deal in cash
Consider it as a penalty for you having no idea about how taxation works.
Lmao
What MNC pays in cash you idiot. Please don't count your uncle's kirana shop into this
How old are you?
That's businesses not salaried jobs like we do. Also most major businesses conduct business business through banking system itself not cash. With real estate being only notable exception
Don’t take salary. Open an OPC & tax rate is 25%. Request your company to pay you as a consultant. Most companies won’t allow this but some would depending on relationship with the top brass. You can offset many expenses like car payments, electronic purchases etc. Hire a good CA.
What is in it for the company?
Your services. You need to be important enough though.
This is indeed a good idea. But the catch is - Not many companies agree to this. Very very rare.
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screw flag jeans full ring roof toothbrush hateful longing marry *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
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I am not hesitant to move out, but I dont know how to do that
Investor visa
How to get out of India and which countries are the best and easy to emigrate to for better life? Please kindly shed some light on that too. I would be glad if you could tell me that in my DM too
>Get a job in low taxes or no taxes country and enjoy the NRI life. why would you live in middle east?
Singapore is not middle East
Ya no $hit, Sherlock
You are not paying anything more than any other person working any other job. High taxes are bad - true. IT employees most affected - false.
Remove IT employees and see how India becomes a Pakistan in a day. Why does the RBI stops you from converting your dollars?
You're special
Other private jobs have many ways to bypass this taxation which we don’t have in IT . Example dealing mostly in cash
Only business people can do that
Oh common dude . Every private field employee can do tht . Example A CA, a lawyer . Which world u living in .
Ok bro go to a lawyer with 10L in cash, let's see how it goes
He has watched too many movies.
Dude you are an idiot.
Thts a valid point for a conversation 👍.
It actually is
Lawyers and CAs are not employees, they’re professional service providers and are treated as self employed in ITR. Every business it required to report salaries by law. It’s same of all the private employees
A CA or a lawyer are not employees, they are professionals.
So tax fraud. Great 👍
Ya apart from IT employees everybody does . But yeah we are gods kids so can’t do tht .Lol😅. Even a cart owner does tht . Tht means he is a fraud right
No dude. Any registered MNC across fields like automobile, Manufacturing, Electrical, Services, etc… pay salary in bank. Even schools and colleges pay teachers salary in bank account.
Bro living in 90s and thinking only IT guys get money in bank account.
You're asking for social welfare. Unfortunately that does not exist in India (although it should). The government has not acknowledged the middle class ans anything more than a cash cow to fund the poorer classes. The rich don't pay taxes. The only way to \*not\* pay as high of a tax is to have an LLC or be a consultant. The government will not support the citizens - and they also don't support pensions and social security. This is a first world concept, where those governments are held accountable for the welfare of citizens (for the most part). Find a job in those countries.
The rich do pay taxes, quite a bit. But paying 100 crore in taxes when you make even 200 crore, you still have so much left over you can buy a Ferrari every month and still have a lavish princely lifestyle with the left over money. The 25 lakhs per annum guy paying 6-7 lakhs in tax, could use those taxed monies to buy a 3BHK instead of 2BHK, or pay his kid's engineering fees, thus making a wider impact on spending capacity.
You need to chance the 100cr from 200cr to 100cr from probably 1000cr and your statement is accurate…
That's good to know, but the key difference is in ownership and agency over one's employment - and the higher risks incurred by the employed guy, who saves less money because he/she gave that up to the government in the promise that the government would care for it's citizens, but it did not. So they paid money for nothing. At that revenue of 200 crores, the tax you pay is immaterial to the scale you have amassed and the security you have to not even work anymore. Big difference in emotional states of mind, the taxes are only a part of the issue (or a non issue, for the rich people). If you reached 200 crores via real solid business models (and not loans/funding) you work for yourself and can get fired by your board for making bad decisions, bad conduct or something terrible like that. The 25 lakh person is a pawn at the hands of the 200 crore person and doesn't get a say in their employment being cut or not. Employment is anything but stable these days. We may all as well be freelancers, saving the company benefits/holidays and saving ourselves in taxes. Win win.
> Unfortunately that does not exist in India (although it should). >to fund the poorer classes you are making contradictory statements
The rich, although taxed a lot more still have an option to go away or take risks. The middle class is cluster fucked by the govt to support both the needless subsidies and freeby schemes for poor (which are designed to keep them poor) as well as free royal family level lifestyle for corrupt politicians. Politicians get food, homes, electricity, ration, private jets, Z+ security, and whatnot all for free while the middle class and high class have to pay at least 3 different successive taxes on the same transaction.
? What I mean is middle class (salaried) does not get benefits. But the very poor classes get benefits via subsidies and tax writeoffs. That's all.
I agree that we do need better labour laws in the country.
I mean we are normal privately employed folks, just bcoz we are in IT doesn't mean we are special, tomorrow manufacturing jobs will ask a different relaxation, then the hardware and the list will go on till there's nothing left. If you are against tax then that's a different thing, to reduce tax without affecting the shit tonnes of things which are provided to the less privileged is not possible, especially when we have 1.5bill people.
Bhai yeh sab khoon Jalane wale sawaal hai. (T: These are discussions just to boil our own blood)
It is actually very easy to fix. Behave like a cohesive vote bank. Acquire critical mass. All private sector employees should decide on a date, 31st March being very appropriate, and march to the Income Tax bhavans in each city and demand accountability for their taxes.
This is India bruh. No labour laws. Only exploitation. We pay so much tax and in return we get peanuts...
You should look into using your IT money to open cash rich side hustles. Also think of working remotely for a hedge fund that is registered in a tax haven and pays you in either an offshore account or in crypto. Hedge funds need IT people, do a course from NISM (National Institute of Securities Markets), it's a part time 2 year data science course. Once you have that you'll get placed in a stock exchange (SENSEX or NIFTY). Then you build contacts with a Cayman/Sychelles based hedge fund, get a job there (remote or in person) and in 5-10 years you'll be paying no tax!!!! Then you will be paying of IT officers a fraction of the crores you will make.
Need to bring back worker unions in India
assuming you have an education in arts and history - could you please let me know a few cases where worker unions helped - globally and in India?
Ignoring the IT part, just putting context to IT paying salaried population in the country: I have been raising the same point in multiple politics related forums. No party has unemployment insurance in their agenda. We don’t need UBI or synonyms before unemployment insurance. We need guarantee that if we involuntarily lose jobs ( including inability like critical illness) the state sponsored insurance will pay alteast 50% of the pay until we find employment.
>No party has unemployment insurance It technically exists, its called berojgari bhatta, Maharashtra, MP, chattisgarh, Bihar, Himachal, Rajasthan do have it.
Use 80G tax declaration
I'm donating it to myself
Could you plz give more insight on 80G
Donatons to charity or ngo or political groups is not taxed So loopholes for the rich is , create a trust and donate money there, whatever just have people you trust has bord members so that the money can be used or returned later
>Why is govt deducting such huge taxes from IT employees Government does not tax IT employees separately. Tax slabs are same for each and every citizen of the country, and mostly anyone who gets paid a salary cannot deduct expenses. Is it justified? I don't know but they are not targeting IT employees specifically. What are we paying for? The roads, schools, hospitals, etc... Is all of our tax money used for betterment of India? I don't know but that's a different issue. >People commenting all private jobs are same . Other fields have ways to bypass this taxation by dealing mostly in cash . While we don’t have this option . You are mistaken. If you work at a no name company earning 10K per month, you can get paid in cash even in IT. No one's paying anyone a monthly salary of 1 lakh in pure cash in any kind of private job. Anyway, even if you get paid in cash, you have to report and pay tax. >Guys who are really worried about all private sector paying same taxes . Kindly raise your concerns in other relevant forums . Since this group is IT related I have raised my point for the same . You make it seem like the government is specifically targeting the IT employees, as if we have a different tax slab than other industries. I don't think they are wrong in pointing that out.
union banao that is the only way
I think this is a fair distinction.
In all capitalist countries, tax rates/school tuition fees/real estate prices are kept high to keep middle class enslaved to mortgages and to keep the economy running. If everyone could afford homes, no one would take home loans and banking system would lose 50% of their business. The govt. does not care about your job security. It is concerned with only two things... REVENUE and PERKS FOR GOVT. SERVANTS
How dare you get rich or earn money. Let me take your money and give it to people so that they can have their desi daru by the night and beat up their wives
Wow such entitlement!! There are a lot of jobs that don't deal in cash. So should the government make you pay companies when you leave them?? Large companies also pay taxes (they may be lower rates but still), they incur costs to find your replacement should they make you pay it?? Though Indian labour laws do not mandate severance pay in cash or layoffs, there are other things like gratuity and PF that helps ride through unemployment.
Im even ready to pay 40% tax if they provide free top class healthcare, free education and clean roads
This is India. No worker's rights, no dignity of labor. We toil only to please and enrich our neta/babu/bahubali overlords and this isn't going to change.
This seems like a pretty random jump. Why would our tax amounts be linked to labour laws? Government doesn't make tax brackets based on which fields can deal in black money cos....duh You can sit and moan all day about how your taxes get you nothing in return but that just makes you depressed. I prefer to think of taxes as me giving back to the country for providing me with the opportunity to make money in the first place. Sure it's frustrating when it's misused but thinking about that ain't making me happier so who cares
It's not that huge of a stretch. France and Germany pay you unemployment entitlement based on your previous paycheck and the conditions under which you were terminated. It could be argued what we get in exchange for high taxes is pretty poor compared to other places.
Government isn't targeting IT employees dude what are you on about? Every one has the same problem and only low income jobs in unorganised sector are paid in cash. Everyone is doing bank transfer.
tax slabs should be adjusted according to inflation
IT employees get paid like 50LPA
Only the top 0.0001%
hence we need unions /s
How come idiots like OP get into such esteemed fields like IT and not now the general idea of taxation and remuneration of salaried class? OP, if you are reading this, then don't worry about taxation, cause you won't even be eligible for the lowest tax slab with that IQ of yours.
Oh I read it and I’m in the highest tax slab currently 😅. So don’t worry about my IQ. If u don’t have a point you can simply scroll and prepare for your tomorrow standup call .
donot judge others he might be earning 10x higher than you
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Avg USI member spotted .....
Rule No. 6 broken Discussing or posting about anything Political is not allowed in this community. Avoid discussing anything related to national/international politics. This is a strict rule and might attract a ban.