https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204680
Bhai you are so early, tax planning should be done before 31st March, now only mischief is possible.
5 lakhs Tax deducted by Employer, anyway to get Refund to the extent of 50%(2,50,000)?
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Hello Dimers,
Suggest possible ways to claim Refund to the extent of 2,50,000 from 5,00,000 TDS
80c 1,50,000 Consumed, Nps 50,000 consumed, 80D Medical insurance already availing
Is there any way to claim exemptions from salary under section(10)?
Or any other possible ways to reduce tax for Refund?
Please do tag any Dimers who are aware of this provisions for better Discussion
@caks2006407, @bobby_123, @kukdookoo, @Ramta_Jogi, @quantum, @Jarvis.-., @Agnivo007
Suggest possible ways to claim Refund to the extent of 2,50,000 from 5,00,000 TDS
80c 1,50,000 Consumed, Nps 50,000 consumed, 80D Medical insurance already availing
Is there any way to claim exemptions from salary under section(10)?
Or any other possible ways to reduce tax for Refund?
Please do tag any Dimers who are aware of this provisions for better Discussion
@caks2006407, @bobby_123, @kukdookoo, @Ramta_Jogi, @quantum, @Jarvis.-., @Agnivo007
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https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204692
5lakh on how much income?
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204694
Hotsoup wrote:Bhai you are so early, tax planning should be done before 31st March, now only mischief is possible.
Yes, thats what I am asking bro(mischief). No planning as it's already done prior to 31st March and utilised all possible ways for investment
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204702
BAT_MAN wrote:5lakh on how much income?
It's almost 23 lakhs Net Taxable income
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204706
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You are still good with 5L
Vinayvickey wrote:It should come around 7-8LIt's almost 23 lakhs Net Taxable income
You are still good with 5L
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204710
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204711
If you have consumed all sections then the only way to claim refund, assuming no taxes to be paid, is to file the return as soon as the portal opens.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204740
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Vinayvickey wrote:33-35% slabHow come bro? it's around 5,20,000 on 23 lakhs Taxable income with cess as per slabs right
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204758
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204852
Need to plan way ahead to bypass half tax that also in salaried income
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204954
Practically it's not possible @Jarvis.-. ,no one will pay rent to the extent of 9 lakhs per year even if such person earning 23 lakhs, video is just for education purpose with high amount of rent
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204961
Vinayvickey wrote:Practically it's not possible @Jarvis.-. ,no one will pay rent to the extent of 9 lakhs per year even if such person earning 23 lakhs, video is just for education purpose with high amount of rent
Also you want after year end completion. I have 2 -3 ways, but i would suggest to connect your CA, he will guide you.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204982
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Hotsoup wrote:What are your ways? That's what this discussion is meant for. Everything that has to be done till March 31st is already done, availed deductions completely. Now time for getting Refund to the maximum extent possibleAlso you want after year end completion. I have 2 -3 ways, but i would suggest to connect your CA, he will guide you.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204990
kukdookoo wrote:
If you have consumed all sections then the only way to claim refund, assuming no taxes to be paid, is to file the return as soon as the portal opens.
That's very funny 🤣, BTW February 2023 itself Income Tax Department released all the ITR forms for FY 22-23
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204991
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Vinayvickey wrote:Do connect your CA, he will guide you. There are 2-3 ways.
What are your ways? That's what this discussion is meant for. Everything that has to be done till March 31st is already done, availed deductions completely. Now time for getting Refund to the extent of maximum
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9204996
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205022
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Vinayvickey wrote:Then you should have planned taxation then.try filing the return if the form is there as per youThat's very funny 🤣, BTW February 2023 itself Income Tax Department released all the ITR forms for FY 22-23
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205098
Congratulations😊 for being honest tax payer and contributor to India's development and giving helping hand to less privileged brother and sisters - am not sarcastic but nothing much can be saved legally and many have been paying for years
new tax regime might be beneficial so u can stop those deductible investments
Our tax payments are spent for political ads by all parties like water - most painful thing to see 😌
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205107
I guess, you can NOT save any tax in ethical way.
You may try legal way, just get back dated receipt for donations which provide tax deduction.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205111
Those investments and all doesn't matter may be will continue further even in new regime as they will help in Future
Heard of some commission agents who files Return and claim maximum possible Refunds by charging 5 to 8% commission
Wanted to know how they are doing and how will they manage such chaos 
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205115
Vinayvickey wrote:They may file but you are responsible and answerable ultimately because it's done under your name, risk free commission for them.Those investments and all doesn't matter may be will continue further even in new regime as they will help in Future
Heard of some commission agents who files Return and claim maximum possible Refunds by charging 5 to 8% commission
Wanted to know how they are doing and how will they manage such chaos
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205119
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decideaim wrote:Even I taught the same and got to know that it's their usual way of doing business for years and will manage everything as they have experience over this and will take care if negative consequences by Department
They may file but you are responsible and answerable ultimately because it's done under your name, risk free commission for them.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205197
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205204
Another 50k for yours and parents health insurance, 75 if they are senior citizen
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205211
legend101 wrote:Another 50k for yours and parents health insurance, 75 if they are senior citizen
25k premium included in 80D, now we have to find possible legal or illegal ways to claim Refund to max like inflate rent to claim max HRA exemption, LTA and any other exemptions from salary possible under sec 10 etc.,
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205215
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Vinayvickey wrote:25k premium included in 80D, now we have to find possible legal or illegal ways to claim Refund to max
What about hra?
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205274
Will claim maximum HRA by inflating rent, but it saves very less amount
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205281
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Vinayvickey wrote:
Will claim maximum HRA by inflating rent, but it saves very less amount
Be a good citizen. Don't change numbers just to save tax. It can boomerang on you if caught during random audit like asking back with a penalty.
https://www.desidime.com/discussions/5-lakhs-tax-deducted-by-employer-anyway-to-get-refund-to-the-extent-of-50-2-50-000?page=1#post_9205293
Instead I will flee from india 
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No bro it's not directly 33% on 23lakhs
First 2.5 lakhs nill
Next 2.5 lakhs 5% ie,. 12500
Next 5 lakhs 20% ie,. 1 lakh
On Remaining Balance (13 lakhs) 30% ie,.3,90,000
Making total 5,02,500(12500+1 lakh+3,90,000)
On this Total 4% cess(20,100) making 522600 Total Tax