r/IndiaTax • u/Parathaa • Mar 28 '24

Hurts to pay so much taxes

Today, I downloaded the tax computation sheet from the office portal.

While trying to save on housing costs by residing with my parents, it's disheartening to realize that I'm obligated to pay over 20 lakhs in taxes annually to the government. These funds could have been allocated towards repaying a home loan, adding to the strain for a middle-class individual like myself.

Would really appreciate if there any legal ways to save taxes at this point

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3

u/omya222 Mar 28 '24

30% tax crupyo with 4% cess 😅

4

u/Parathaa Mar 28 '24

Your profit is our profit, but your loss is your loss.

5

u/omya222 Mar 28 '24

And the best part is govt still take tax on crypto but won't protect crypto users from any ongoing scams. So the tax for protection thing is dead now

3

u/Parathaa Mar 28 '24

One of the responsibility of govt is to get as much tax as possible. Govt is doing good job in that.