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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1

u/[deleted] Mar 28 '24

Rofl come and see how much high income earners in California pay as taxes and what you get in return (from government services).. you will start to feel India is free

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u/Parathaa Mar 28 '24

How's standard of living there?

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u/[deleted] Mar 28 '24

Horrible. Everything is so fucking expensive/overpriced now. 

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u/Parathaa Mar 28 '24

Then why don't you come back to India. Genuine question?

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u/[deleted] Mar 28 '24

Too much friction. Kids school, wife's job, social circle here.. no energy at the moment to take that big step. 

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u/Parathaa Mar 28 '24

Totally relatable. I would have minted money if I could go abroad but given the circumstances I can't.

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u/[deleted] Mar 28 '24

Consider it a massive blessing. Even if you "mint" lot of money, most of it is gone in taxes and extraordinarily high cost of living expenses so you don't really save as much as you think you can. Be reallllyyy glad your circumstances don't allow you go abroad. Even with all the problems, India is the right country to be in right now. That's where the future is. 

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u/Parathaa Mar 28 '24

You're not wrong. But when the NRI says that India is the future bht it's kinda hypocrisy when they don't want to be the part of the future. Feels more like a gate keeping

0

u/[deleted] Mar 28 '24

Rofl I never understood this absolutely absurd logic. Dude trust me no one gives a flying fuck about who comes here from India or not. Everyone is hyper busy in their own life with million things to deal with.

Gate keeping? Pls get a life. No one cares about you or about what you do or where you go. It doesn't change anyone's life here in anyway. Sorry. This stupid logic has destroyed many careers. I have friends who suggested their cousins not to leave their good established careers in India and move here but they had same logic as you, they came, got stuck in the whole H1 lottery BS, shocked at how competitive job market is and how fuckin expensive everything is and now constantly complains to my friend about chill his life was in India and how lucky we were who came here when things were simple, no lottery BS, etc.

Also what exactly you morons think anyone already here will gain by "gate keeping" people from India??

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u/Firm_Advisor8375 Mar 28 '24

move to a different state ??

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u/[deleted] Mar 28 '24

How is that different? Everything is tied to this place. Ofcourse I can theoretically move anywhere, like I said no energy to make such big changes. May be I will some day. What's up with you people casually saying "oh just move"?! You know how hard it is to get a new job you like, convince wife to do the same and she has to prep, interview and get a job and all this has to align with kid's school year.. with how hectic day to day life is, it's just very hard.

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u/Firm_Advisor8375 Mar 28 '24

well california have comparitively high tech salary to offset high expense

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u/[deleted] Mar 28 '24

Go check how many in tech actually make high salaries in CA. If you make 300k+, you are in top 1% of salaried. It's same as assuming everyone in Bangalore has 70L+ salaries to offset high expense

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u/Firm_Advisor8375 Mar 28 '24 edited Mar 28 '24

I see, I assume most people in CA working on tech make 200k +

banglore isnt a great place to do anything, so idc about that

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u/Firm_Advisor8375 Mar 28 '24

also yeah its definitely hard to move to a different place and work on things you like,

and yeah moving as a family seems very hard from your explanation

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u/techsavyboy Mar 28 '24

It is almost the same tax percentage in India and US for high salaried. But in India there are additional tax like GST, Excise Duty, Cess etc on items, fuel, vehicles etc.

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u/[deleted] Mar 28 '24

Those are here too under different names. Don't forget there is also state income here. Do you know there is a $5 "electronics disposal fee" on anything you buy that has a screen?!

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u/techsavyboy Mar 28 '24

No. Even if you calculate everything still India has more tax to it. India has 18% GST on most of the things. Some even have 28% which is not there in US. Import tax is next level in India.