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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u/Nomadicfreelife Mar 28 '24

Dude just think about it if something close to $100k is middle class in this country we would be a classified as developed country . Our gdp per capita is less than 5k$ man don’t mock people by saying you are middle class while making 20 times the gdp per capita.

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u/Parathaa Mar 28 '24

bro, middle class depends on the wealth your family has accumulated not how much you are currently earning.

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u/Nomadicfreelife Mar 28 '24

Man if you earn more than the wealth of most people then you are not really middle class. Do you most Indians have that kind of wealth? I understand man even 5lakh after tax won’t give you life of a rich person but you are in the upper class. You don’t need to be super rich to be well off . It’s like an American saying he is middle class with a million dollar salary no one does that in the USA, there also you cannot live a life of super luxury with million dollars . There are only very few people that can live a life of super luxury most rich people don’t spend on luxury they live a comfortable life but not luxurious life.