Hello Sir, I really appreciate the way you're explaining and sharing knowledge in order to spread awareness regarding Taxation. However there are few things to be considered - 1) It is the Industry norm and almost no company allows more than 50% of Basic Salary as HRA. In your case it has been taken 82% which is not practically feasible. 2) If Company which is registered under GST and makes a rent agreement for residential property additional cost of 18% GST will have to paid under reverse charge. 3) Request you to make video by examining it from all angles and with practicality and without having your own assumption.
Absolutely true, aur jab 9 lakh rent p hi pay kar diye toh bachaya kya khaaq. Rs10000-15000 pm (jo hota hai) rent ka example 20 Lakh salary pe lagaiye. No assumptions. Assume karke kisi ne 16 LPA saary ko tax free dikha diya youtube pe, toh 16 LPA wali tax free thori na ho jaegi. Usne education loan dikha diya, child hostel allowance dikha diya etc, ut har kisi ke bacche thorr n hote hai. Assume those facts which can commonly be assumed, not just anything to save tax. 9 lakh perquisite pay karke tax hi bachaya sirf, invest toh kuch kara nhi 9 lakh me se. 🙏
Exactly and many IT MNC doesn't offer to make any changes in their structuring even asked by employees, so this video is only for sharing awareness about laws which exists but doesn't fit practically in many sector
1. Gst paid under reverse charge can be claimed as input by company itself so the is point is not valid here. 2. This video is for awareness purpose and if your employer is ready to structure your salary then you should restructure as best as you can.
I recently given ca foundation dec 22 exam Bro I want to know tha how ca sahil sir taught in regular classes how many duration of watching hours .does he complete syallabus timely ?
This is benefit for the students because a teacher who teach and also a professional in that field teach better than who have only bookish knowledge because like sahil sir they can compare tax provisions into practical situation 🙂
All that you need to do is as follows:- 1) Apply Cases 1 & 2 to your income and house rent and see which of these cases suit you the best. 2) Try to make your employer structure your salary in a way that you are able to avail that benefit. Not every employer will accept your request, but at the end, considering what is possible in your specific case, you should structure your salary accordingly. Happy learning! ❤
Hi sir, there won't be any GST impact on the employer.? Recently from 18th July 2022 residential dwelling taken by the registered person will be subject to RCM.? Kindly clarify sir
There are many hurdles to consider for this video. 1) Employer will never give even 1 rupee more than 50% as basic salary (reason being retirement benefits like gratuity/EPF/ESI/Bonus/leave salary are mostly calculated on basic portion). 2) this huge deduction is possible only for those who are actually paying rent to a real 3rd party (not relative): reason being it would rental income in hands on landlord so all this exercise has no use 3) RCM GST liability on rent increases working capital constraints on Employer 4) TDS on rent 5) no other expenses component to my knowledge apart from house to which such structuring could even apply so those who live in family home are back to square one
I know this clauses Nd rules theoretically but the way you explain its practical implication is way beyond my imagination. Thank you for this video Sir.
There are many problems with having low base pay and with 3rd plan. We all get salary increment every year. The raise is generally given as a percentage of base pay by the company. If we reduce the base, our increment also decreases. In the long term, we may be saving taxes but at the cost of our own income.
An 2nd engineering student, very much passionate about PERSONAL FINANCE B and wants to make carrier in HARDCORE FINANCE, Awesome vdo sir, you made this concept extremely simple. ❤❤❤❤❤
In Case 3 : The employer will also need to pay gst for the residential property which he will deduct from your ctc only ( obviously) so we also have to consider that.
Every employer make sure that HRA= 50%of basic pay. In this case, smart employer make structure like this basic pay = 13.3 & HRA= 6.7 so, HRA exemption will be 6.7 and taxable income = 20 - 6.7 - 0.5 = 12.8
I am a salaried doctor by professional and watch taxation with CA Jain to understand taxes better. Request CA Sahil Jain to create videos for professionals, SMSE and Traders please - would be highly appreciated.
A person being insecure about sharing this structuring plan with his/her employer,decides to share this video with his employer to ask them in determining which case 2 or 3 might be beneficial for him,The employer after taking this into consideration might say: "Now that i have taken efforts to provide u the benefit of time value of money,i expect u not to ask for a hike any time sooner🙄😬😅😂." Thank u so much Sahil Sir for taking efforts from ur side to bring such great practical content.
Absolutely true, aur jab 9 lakh rent p hi pay kar diye toh bachaya kya khaaq. Rs10000-15000 pm (jo hota hai) rent ka example 20 Lakh salary pe lagaiye. No assumptions. Assume karke kisi ne 16 LPA saary ko tax free dikha diya youtube pe, toh 16 LPA wali tax free thori na ho jaegi. Usne education loan dikha diya, child hostel allowance dikha diya etc, ut har kisi ke bacche thorr n hote hai. Assume those facts which can commonly be assumed, not just anything to save tax. 9 lakh perquisite pay karke tax hi bachaya sirf, invest toh kuch kara nhi 9 lakh me se. 🙏
Sir ,I am a deaf student .I like your videos. My brother sees your video and explain it to me. Sir,can you please add English subtitles so i can watch videos independently.
First thing a reputed company/MNC is not allowing to modify CTC at employee's discretion Secondly a person earning 20 lac will spent 9 lakh in house rent is very rare. There are better logical way of paying ZERO tax for salary of 20 lakh However, everything is an assumption and depends on person to person. So, for proper CTC design and savings maximum taxes one should consult a professional. Appreciate your free service for spreading awareness on tax planning 🙏💐
@@tis_ace do employers re-structure an employee's salary on request? But we would want to keep CTC high as that dictates increment in same company and while switching
Maza aaya video dekh kr And In 3rd case compliance badh jayegi Employer i.e. employer as to deduct dts on rent paid u/s 194I whereas 1st and second case mein nahi hota ye.
Sir, I have few points to say,It would be great if you clear them. 1. The benefit is clearly there in comparison. But. I would say rarely someone will pay 50k rent and that too it is 6L. I feel the amount considered is too big and it unnecessarily glorifies the savings between multiple cases. a rent from 15k to 40k is a genuine rent I feel that the masses would be paying. 2. HRA component is also never this high in the CTC. and every company doesn't allow restructuring. 3. Realistically, still no one pays such high component as rent. And Even if everyone is earning and managing to pay such huge rent. Eventually as he is considering the complete rent, others still have to pay taxes as they won't be able to get rent benefit.
sir you missed the following important aspects in the video 1)Deduction u/s 80GG in case 1 2)Gst payable by landlord in case 3 3)Its highly unlikely that a person earning 20L will spend 11Lakh together. Instead , his expenditure would comprise of multiple small transactions, for which he cannot trouble the employer every time. So practically speaking , in case 3 he would be availing benefit only for large expenses , and considering overall gst effect , case 3 is practically useless. Im your student sir , don't take this as a hate comment .
Thanks for initiating this discussion Rahul. Let me answer all your concerns:- 1) 80GG is not applicable in either of the 3 cases discussed in the video. Read 80GG again and you'll know why. 2) GST Payable by landlord shouldn't really be a problem since that landlord will get an ITC of the said amount. 3) Towards the end of this video, I have explained situations where rent paid as a percentage of income is high and the reasons behind it. More so, this video is by no means an attempt to tell people to not claim HRA and go for Case 3. All I have said is that depending on your income and rent paid, either of cases 2 or 3 could be beneficial for you. Just do the analysis and choose whichever case saves you the most amount. Hope I was able to answer your concerns. All these videos give some food for thought and make the viewer think of ways in which they can save taxes.
Sir i am ur gd Student, you clear each abd every sections in very deep manner in class itself and thereafter these practical case studies are like additional to himoglobin into blood
Thats why i always wondered how such in efficient tax system has been in yhe Country...its has got nothing to do with reality and works only towards complications..where honest people are penalized and dishonest persons are awarded... A simple banking transaction tax would solve all the prob...& trust me if can make such a complicated tax law workable in the country, we can surely make banking system as the most prominent tax levy system as well...where it would be more simple, award honest and small income earners directly or indirectly and would tax rich person more..
How can we position this to the company to convert the HRA into Perquisite? Amazing content, really appreciate all the knowledge that you share. Thank you!
Dear Sir, It would be more helpful for the South Indian students, if you share your knowledge in English as well bcz I was able to see all the topics selected by you are really interesting and helpful
sir your way of teaching is excellent. But I have question regarding 3rd option, in 3rd option CTC of employee will be reduced on paper and employees never want to decrease his CTC on paper. thanks for your guidance.
Hello Sahil,thank you for sharing knowledge, know thank you is very small tried a better word and didn't found better one. very interesting and important video. Looking forward to gain and share of yours.
1)Sir kya tan no lena mandatory ha amazon seller ke lia? 2)Form16A har mahine amzon me dalna ha ya baras me ek bar? 3)tan no kya harmahine filing karna padega?
Which option to choose if your rent is less than 50% of base (which was not the case in the video bcoz 9 > 50% of 11 lakhs)? 1. In case of HRA: Taxable salary = Base + HRA - (Rent - 10% of base) = total salary - rent + 10% of base 2. When company pays the tent for you Taxable salary = Total salary - rent + 15% of paid salary Paid salary = Total salary - rent >= Base salary So, in case number 2, your taxable income will be higher than 1. Conclusion- better to have HRA component in your salary if rent is less than 50% of base salary Note: here I’m not considering standard deduction in taxable salary as it will be same in both the case.
Really great and knowledgeable video. I just got a job for this much only and I'm finding ways to save tax, infact now there's many in my circle who's reaching this stage and trying to restructure tax. Have watched many of your videos, even though I'm from IT 😅. Also for those who are saying companies won't restructure, that's not the case as even people in senior positions are trying to save tax and if it can be done for us and for them too, for ex. car lease policy, nowadays many companies are giving this option and this one saves a good amount of tax. (if the car belongs to your family 🤭)
Wonderful explanation bro. However, I have a request. As your speech is in Hindi which is extempore - can you slow down a bit with your deiivery? We south Indians find it difficult to catch up with your Vande Bharat Bullet Train. Thanks.
1st idea is common practice by employees though 2nd one related to perquisites is good discovery though not practically applicable in case of MNC employees atleast. They can't negotiate with these companies to mk them bifurcate CTC as per employee's wish.
Hi Sagar. Thanks for the constructive feedback. Change looks bad initially. Give me 2-3 more videos in this format. If at all you still feel that you liked that earlier one more, I'll switch back to it :)
Thanks for sharing such great info. It's really informative. Sir, can you please make some dedicated video series on similar topic for employees tax savings.
Great video sir. Still one question arising if employer agrees and gives the perquisite benefit to the employee then what will be tds scenario 1. Will tds be deducted on basic + perquisite gross amount? 2. What will be the accounting treatment in the books of employer if he is showing such transactions perquisite expense will be booked under which head? Guys please answer if anyone has solution to it.
In the last senario.... You did not considered increment in rent every year.. and the inconvenience of contracting with landlord every 11 months....If the tenure of the contract is to be taken more then 11 months then the muncipale tax of near by 10% of the Munciple value of the property(which no one wants to pay)... I don't think any MNC will agree to restructure this way...
So you think, CTC structure is in employee's hand? All big MNCs already have their own structure that will be applicable for all the employees. We can't change it
There is a section in salaries of MNC's like tcs and infosys called Bouque of benefit which an employee can modify as per his needs and can restructure , hra , medical expenses , leave travel allowance etc u can increase or decrease . Only basic section of income cant be changed
But if we are getting money in our hand , we need to pay tax. If employeer directly pay to landlord money does not get into our hand. That,s why income less ,so tax less.
Employer generates form 16 and basic is never considered as total ctc -HRA. WE can show basic as 11lac while filing but that might be a diacrepancy with form 16 issued by employer and in case of notice by tax dept. There is no justification that can be given
GOOD SIR, VERY KNOWLEDGEABLE VEDIO, RESPECTED SIR, AAJKAL EMPLOYER APNI RESPONSIBILITY SE BACHANE KAI LIYE EMPLOYEES KAI JOINING LETTER MAI, TRAINEE/ APPRENTICESHIP, CLERKSHIP, PROBATION, INTERNSHIP, ARTICLESHIP ETC. WORDS DAL DETE HAI, EK MUSAT AMOUNT EMPLOYEES KO PER MONTH PAYMENT KARTE RAHATE HAI 1 YEARS SE LEKAR 5 YEARS TAK EK MUSAT AMOUNT KA PAYMENT KARTE RAHATE HAI AND EMPLOYEES SE WORKS LETE RAHATE HAI, EMPLOYEES SAMAJ NAHI PATA KI ITR KAISE FILE KARE TAX KAISE BACHAYE, US SITUATIONS MAI EMPLOYEES KYA KARE PLEASE INFORMATION SIR VERY VERY CONFUSION LOT -OF EMPLOYEE KYOKI UNKO SALARY STRUCTURE VAHA UNKO NAHI DIKHATA HAI
I have never seen any employers asking the employee about tax structuring. Didn't even know that is a thing. Also, I wonder if any employer would take the headache of paying amount directly to a landlord which can change every few years.
Prerequisite mein problem yeh hai ke job change mein salary hike mein dikkat hogi 2nd you will be dependent on employee for home and it will be difficult to switch
Sir ji, First of all Thank you so very much for all these kind of very informative videos🙏 and a Kind request to make video on Bollywood related to taxation and Tax evasions, There must be some tricks they showcased huge figures like 200Crs 500Crs, Please Make video on same 🙏 Thanks again❤❤
The delivery, the lucidity, it's just incredible. As a fellow CA, I'm proud that people like you grace our profession, Sir
Totally agreed
No one teaches the practical knowledge, only sahil sir does it. Best teacher for a reason.
Apne sir ki ca final ki classes purchase ki hue h kya?
@@Hardik___0103 have you purchased ca final classes ?
Hello Sir,
I really appreciate the way you're explaining and sharing knowledge in order to spread awareness regarding Taxation. However there are few things to be considered -
1) It is the Industry norm and almost no company allows more than 50% of Basic Salary as HRA. In your case it has been taken 82% which is not practically feasible.
2) If Company which is registered under GST and makes a rent agreement for residential property additional cost of 18% GST will have to paid under reverse charge.
3) Request you to make video by examining it from all angles and with practicality and without having your own assumption.
Absolutely true, aur jab 9 lakh rent p hi pay kar diye toh bachaya kya khaaq. Rs10000-15000 pm (jo hota hai) rent ka example 20 Lakh salary pe lagaiye. No assumptions. Assume karke kisi ne 16 LPA saary ko tax free dikha diya youtube pe, toh 16 LPA wali tax free thori na ho jaegi. Usne education loan dikha diya, child hostel allowance dikha diya etc, ut har kisi ke bacche thorr n hote hai. Assume those facts which can commonly be assumed, not just anything to save tax. 9 lakh perquisite pay karke tax hi bachaya sirf, invest toh kuch kara nhi 9 lakh me se. 🙏
You are right. This is not practically work with company.
Exactly and many IT MNC doesn't offer to make any changes in their structuring even asked by employees, so this video is only for sharing awareness about laws which exists but doesn't fit practically in many sector
@@krdharmjeet what is the use of this video when this not going to help us. I really expect videos which will be helpful and practical.
1. Gst paid under reverse charge can be claimed as input by company itself so the is point is not valid here.
2. This video is for awareness purpose and if your employer is ready to structure your salary then you should restructure as best as you can.
Knowing Theory is one thing and applying it to practical life is another! Thanks to Sir Sahil Jain's videos I am able to learn so much!!
I recently given ca foundation dec 22 exam
Bro I want to know tha how ca sahil sir taught in regular classes how many duration of watching hours .does he complete syallabus timely ?
Aaj kuch naya sikhane mila, itne asani sein samjhane ke liye thank you.
Happy Diwali to all of you.
This is benefit for the students because a teacher who teach and also a professional in that field teach better than who have only bookish knowledge because like sahil sir they can compare tax provisions into practical situation 🙂
All that you need to do is as follows:-
1) Apply Cases 1 & 2 to your income and house rent and see which of these cases suit you the best.
2) Try to make your employer structure your salary in a way that you are able to avail that benefit. Not every employer will accept your request, but at the end, considering what is possible in your specific case, you should structure your salary accordingly.
Happy learning! ❤
👍
@@ugachch go to their official website and contact their team
Hi sir, there won't be any GST impact on the employer.? Recently from 18th July 2022 residential dwelling taken by the registered person will be subject to RCM.? Kindly clarify sir
Sir, is the bonus paid at the end of financial year considered part of the salary or considered separately?
In case 3, it will effect the loan size one can take?
Loved ur new gesture ki aapne video ke last m haath jod k bye bola❤
Sir, now we need tax saving videos for self-employed. Like whom want this to be next video.
Your explanation is amazing as always.
There are many hurdles to consider for this video. 1) Employer will never give even 1 rupee more than 50% as basic salary (reason being retirement benefits like gratuity/EPF/ESI/Bonus/leave salary are mostly calculated on basic portion). 2) this huge deduction is possible only for those who are actually paying rent to a real 3rd party (not relative): reason being it would rental income in hands on landlord so all this exercise has no use 3) RCM GST liability on rent increases working capital constraints on Employer 4) TDS on rent 5) no other expenses component to my knowledge apart from house to which such structuring could even apply so those who live in family home are back to square one
Thanks. You make much more sense than this dude
I know this clauses Nd rules theoretically but the way you explain its practical implication is way beyond my imagination. Thank you for this video Sir.
hanji good evening is the best opening line/intro by any Indian youtuber. No dosto BS, straight to the point. #loveit
There are many problems with having low base pay and with 3rd plan. We all get salary increment every year. The raise is generally given as a percentage of base pay by the company. If we reduce the base, our increment also decreases. In the long term, we may be saving taxes but at the cost of our own income.
yes this is what i was thinking.
so HRA is best?
Also do employers re-structure an employee's salary on request?
An 2nd engineering student, very much passionate about PERSONAL FINANCE B and wants to make carrier in HARDCORE FINANCE,
Awesome vdo sir, you made this concept extremely simple. ❤❤❤❤❤
Case - 3, completely depends on company
Case -2, mostly this will work
I am from medical background and still loving his lecture....incredible
In Case 3 : The employer will also need to pay gst for the residential property which he will deduct from your ctc only ( obviously) so we also have to consider that.
Individual owner are not under GST.
It's rare case where they have to pay GST
@@TheAryanAtul here perquistes given by the company is taken as deemed supply. So company is liable to pay the gst if they are GST registered.
rcm gst paid can be taken as input tax credit. so it has zero effect
@@Rogue-Bull ya I agree with this
Every employer make sure that HRA= 50%of basic pay. In this case, smart employer make structure like this basic pay = 13.3 & HRA= 6.7 so, HRA exemption will be 6.7 and taxable income = 20 - 6.7 - 0.5 = 12.8
Recently studied salary for may 2023 attempt. Thank you for practical aspect sir.
Really willing to learn taxation from you in intermediate
You'll love Taxation then.
Me too bro...just worried how I will remember all the sections
@@Evo-zs2rg we have too after all we will going to become CA
@@YASHPATEL30604 true💯
Go for it
I am a salaried doctor by professional and watch taxation with CA Jain to understand taxes better.
Request CA Sahil Jain to create videos for professionals, SMSE and Traders please - would be highly appreciated.
One of the best CA channels in UA-cam
You have a very charming way of delivering lectures. The content is very valuable too. Keep up the good work.
I got My Answer, which was in my mind and even asked you before. ❤️
Thank You. 👍🏻👍🏻
Seedha and sateek answer for tax saving.. Thank you sir for the amazing video.
A person being insecure about sharing this structuring plan with his/her employer,decides to share this video with his employer to ask them in determining which case 2 or 3 might be beneficial for him,The employer after taking this into consideration might say:
"Now that i have taken efforts to provide u the benefit of time value of money,i expect u not to ask for a hike any time sooner🙄😬😅😂."
Thank u so much Sahil Sir for taking efforts from ur side to bring such great practical content.
Absolutely true, aur jab 9 lakh rent p hi pay kar diye toh bachaya kya khaaq. Rs10000-15000 pm (jo hota hai) rent ka example 20 Lakh salary pe lagaiye. No assumptions. Assume karke kisi ne 16 LPA saary ko tax free dikha diya youtube pe, toh 16 LPA wali tax free thori na ho jaegi. Usne education loan dikha diya, child hostel allowance dikha diya etc, ut har kisi ke bacche thorr n hote hai. Assume those facts which can commonly be assumed, not just anything to save tax. 9 lakh perquisite pay karke tax hi bachaya sirf, invest toh kuch kara nhi 9 lakh me se. 🙏
Amazing delivery sir! Really the whole thing was so beautifully explained.
Sir ,I am a deaf student .I like your videos. My brother sees your video and explain it to me.
Sir,can you please add English subtitles so i can watch videos independently.
I sometimes feel jealous that such a premium content are available at free of cost!!!
Thank you so so much sir for making such video!!!🙏❤️
Really True🥺
Sahil ur way of speaking is excellent
Video se bahut achha knowledge nikal k aya 😉
This video is worth saving for future references.. Thanks !!
First thing a reputed company/MNC is not allowing to modify CTC at employee's discretion
Secondly a person earning 20 lac will spent 9 lakh in house rent is very rare.
There are better logical way of paying ZERO tax for salary of 20 lakh
However, everything is an assumption and depends on person to person.
So, for proper CTC design and savings maximum taxes one should consult a professional.
Appreciate your free service for spreading awareness on tax planning 🙏💐
Which better ways are there
@@dynamicreflections Consult a professional.
Companies are hesitant to re-structure since the employer contribution to EPF gets affected. Did you consider this factor?
It could be as EPF is calculated from salary but the definition of salary is different in different context as stated in the video
@@tis_ace do employers re-structure an employee's salary on request?
But we would want to keep CTC high as that dictates increment in same company and while switching
Maza aaya video dekh kr
And In 3rd case compliance badh jayegi Employer i.e. employer as to deduct dts on rent paid u/s 194I whereas 1st and second case mein nahi hota ye.
Sir, I have few points to say,It would be great if you clear them.
1. The benefit is clearly there in comparison. But. I would say rarely someone will pay 50k rent and that too it is 6L. I feel the amount considered is too big and it unnecessarily glorifies the savings between multiple cases. a rent from 15k to 40k is a genuine rent I feel that the masses would be paying.
2. HRA component is also never this high in the CTC. and every company doesn't allow restructuring.
3. Realistically, still no one pays such high component as rent. And Even if everyone is earning and managing to pay such huge rent. Eventually as he is considering the complete rent, others still have to pay taxes as they won't be able to get rent benefit.
sir you missed the following important aspects in the video
1)Deduction u/s 80GG in case 1
2)Gst payable by landlord in case 3
3)Its highly unlikely that a person earning 20L will spend 11Lakh together. Instead , his expenditure would comprise of multiple small transactions, for which he cannot trouble the employer every time. So practically speaking , in case 3 he would be availing benefit only for large expenses , and considering overall gst effect , case 3 is practically useless.
Im your student sir , don't take this as a hate comment .
Thanks for initiating this discussion Rahul. Let me answer all your concerns:-
1) 80GG is not applicable in either of the 3 cases discussed in the video. Read 80GG again and you'll know why.
2) GST Payable by landlord shouldn't really be a problem since that landlord will get an ITC of the said amount.
3) Towards the end of this video, I have explained situations where rent paid as a percentage of income is high and the reasons behind it. More so, this video is by no means an attempt to tell people to not claim HRA and go for Case 3. All I have said is that depending on your income and rent paid, either of cases 2 or 3 could be beneficial for you. Just do the analysis and choose whichever case saves you the most amount.
Hope I was able to answer your concerns. All these videos give some food for thought and make the viewer think of ways in which they can save taxes.
@@TaxationWithCASahilJain Thank you sir for clarifying my doubts
you are too good to explain things like a layman
Really learned something new today
Thank you for the details.
Thanks sahil, this is informative and new way of tax saving with a little gain of knowledge
It's my 8th time I'm watching this video ❤️ I just loved it the way you teach....❤️💫
quite unique way, didnt knew about perquisite till now
This is the reason why we see your video to know more about which things and where we save tax throughs seen your video
Very helpful ..your coherence and clarity of presentaion is commendable ❤
Sir i am ur gd Student, you clear each abd every sections in very deep manner in class itself and thereafter these practical case studies are like additional to himoglobin into blood
Freaking excellent video! Can't believe that taxation can be taught so interestingly.
Real teacher ❤
Thats why i always wondered how such in efficient tax system has been in yhe Country...its has got nothing to do with reality and works only towards complications..where honest people are penalized and dishonest persons are awarded...
A simple banking transaction tax would solve all the prob...& trust me if can make such a complicated tax law workable in the country, we can surely make banking system as the most prominent tax levy system as well...where it would be more simple, award honest and small income earners directly or indirectly and would tax rich person more..
I have nothing to do with CA course, but this was really useful to know
your videos deserve millions of likes and views.
Excellent flow and knowledge sharing. Thanks a million 🙏💐
Simple beautiful intelligent speaking looking and informative presentation.
This section seems like magic for tax planning
How can we position this to the company to convert the HRA into Perquisite? Amazing content, really appreciate all the knowledge that you share. Thank you!
Dear Sir, It would be more helpful for the South Indian students, if you share your knowledge in English as well bcz I was able to see all the topics selected by you are really interesting and helpful
excellent content sahil sir, keep on educating like this, wish u luck ahead.
sir your way of teaching is excellent. But I have question regarding 3rd option, in 3rd option CTC of employee will be reduced on paper and employees never want to decrease his CTC on paper.
thanks for your guidance.
One of the best tutor
Well explained. A small suggestion, please avoid saying "nikalke aata hai" so often.
Explanation is good, but the example rent is well thought of as it is not practical in most cases.
amazing knowledge for ca aspirants
Hello Sahil,thank you for sharing knowledge, know thank you is very small tried a better word and didn't found better one. very interesting and important video. Looking forward to gain and share of yours.
Bahut Jaan Hain aap ki baat and looks mein.
Sirji, you forgot to mention the TDS on rent which is payable to govt if our rent exceeds more than 50k a month.
1)Sir kya tan no lena mandatory ha amazon seller ke lia?
2)Form16A har mahine amzon me dalna ha ya baras me ek bar?
3)tan no kya harmahine filing karna padega?
Which option to choose if your rent is less than 50% of base (which was not the case in the video bcoz 9 > 50% of 11 lakhs)?
1. In case of HRA:
Taxable salary = Base + HRA - (Rent - 10% of base)
= total salary - rent + 10% of base
2. When company pays the tent for you
Taxable salary = Total salary - rent + 15% of paid salary
Paid salary = Total salary - rent >= Base salary
So, in case number 2, your taxable income will be higher than 1.
Conclusion- better to have HRA component in your salary if rent is less than 50% of base salary
Note: here I’m not considering standard deduction in taxable salary as it will be same in both the case.
Really great and knowledgeable video. I just got a job for this much only and I'm finding ways to save tax, infact now there's many in my circle who's reaching this stage and trying to restructure tax. Have watched many of your videos, even though I'm from IT 😅. Also for those who are saying companies won't restructure, that's not the case as even people in senior positions are trying to save tax and if it can be done for us and for them too, for ex. car lease policy, nowadays many companies are giving this option and this one saves a good amount of tax. (if the car belongs to your family 🤭)
Can you put in points as to how you've been saving taxes? Please let me know the ways by which you're achieving it on such a salary.
Great video just a question for company lease there is a GST applicability how to save that?
Mazaa aaya Sir
Felt nice about the way we can use what we study to save our own money !
Hello Sir, The content was awesome. I request you to make more videos for the salaried employees for tax benefits.
Wonderful explanation bro. However, I have a request. As your speech is in Hindi which is extempore - can you slow down a bit with your deiivery? We south Indians find it difficult to catch up with your Vande Bharat Bullet Train. Thanks.
1st idea is common practice by employees though 2nd one related to perquisites is good discovery though not practically applicable in case of MNC employees atleast. They can't negotiate with these companies to mk them bifurcate CTC as per employee's wish.
Sahil sir, you still have an "out-standing" delievery even while "sitting"! :D
We love it that way, honestly! :)
Please consider kariyega! :D
Hi Sagar. Thanks for the constructive feedback.
Change looks bad initially. Give me 2-3 more videos in this format. If at all you still feel that you liked that earlier one more, I'll switch back to it :)
@@TaxationWithCASahilJain Theek hai, sir! :)
Thanks for sharing such great info. It's really informative.
Sir, can you please make some dedicated video series on similar topic for employees tax savings.
Great explanation...
Top notch video. Thanks
Sir in the case where house is treated as a perquisite, what will be the final income in the hands of employee ( after deducting tax)??
Very well explained...!!
Great video sir.
Still one question arising if employer agrees and gives the perquisite benefit to the employee then what will be tds scenario
1. Will tds be deducted on basic + perquisite gross amount?
2. What will be the accounting treatment in the books of employer if he is showing such transactions perquisite expense will be booked under which head?
Guys please answer if anyone has solution to it.
In the last senario.... You did not considered increment in rent every year.. and the inconvenience of contracting with landlord every 11 months....If the tenure of the contract is to be taken more then 11 months then the muncipale tax of near by 10% of the Munciple value of the property(which no one wants to pay)... I don't think any MNC will agree to restructure this way...
So you think, CTC structure is in employee's hand? All big MNCs already have their own structure that will be applicable for all the employees. We can't change it
I don't think there is any way a 30 percent salary person can Save more.. He has to give more 😂
There is a section in salaries of MNC's like tcs and infosys called Bouque of benefit which an employee can modify as per his needs and can restructure , hra , medical expenses , leave travel allowance etc u can increase or decrease . Only basic section of income cant be changed
But if we are getting money in our hand , we need to pay tax. If employeer directly pay to landlord money does not get into our hand. That,s why income less ,so tax less.
Only a few MNC allow, my mnc doesn't allow custom structures as its more work for them
i can only say Thank you so much..i will help us alot
Employer generates form 16 and basic is never considered as total ctc -HRA.
WE can show basic as 11lac while filing but that might be a diacrepancy with form 16 issued by employer and in case of notice by tax dept.
There is no justification that can be given
Again awesome video sir ❤️🙏
Good one. But jo log apne ghar pe rehte h wo kaise maximum tax bacha sakte hai apart from the 80c principl and 24a
Very Good content Sahil
GOOD SIR, VERY KNOWLEDGEABLE VEDIO, RESPECTED SIR, AAJKAL EMPLOYER APNI RESPONSIBILITY SE BACHANE KAI LIYE EMPLOYEES KAI JOINING LETTER MAI, TRAINEE/ APPRENTICESHIP, CLERKSHIP, PROBATION, INTERNSHIP, ARTICLESHIP ETC. WORDS DAL DETE HAI, EK MUSAT AMOUNT EMPLOYEES KO PER MONTH PAYMENT KARTE RAHATE HAI 1 YEARS SE LEKAR 5 YEARS TAK EK MUSAT AMOUNT KA PAYMENT KARTE RAHATE HAI AND EMPLOYEES SE WORKS LETE RAHATE HAI, EMPLOYEES SAMAJ NAHI PATA KI ITR KAISE FILE KARE TAX KAISE BACHAYE, US SITUATIONS MAI EMPLOYEES KYA KARE PLEASE INFORMATION SIR VERY VERY CONFUSION LOT -OF EMPLOYEE KYOKI UNKO SALARY STRUCTURE VAHA UNKO NAHI DIKHATA HAI
Amazing Sahil Bhai
I have never seen any employers asking the employee about tax structuring. Didn't even know that is a thing. Also, I wonder if any employer would take the headache of paying amount directly to a landlord which can change every few years.
did you find out if Indian employers do this?
Prerequisite mein problem yeh hai ke job change mein salary hike mein dikkat hogi
2nd you will be dependent on employee for home and it will be difficult to switch
In the case of HRA 3rd scenario, but the 9Lac paid to the different accoutn will also be taxed, so total tax paid will come out to be around same.
Sir ji, First of all Thank you so very much for all these kind of very informative videos🙏 and a Kind request to make video on Bollywood related to taxation and Tax evasions, There must be some tricks they showcased huge figures like 200Crs 500Crs, Please Make video on same 🙏 Thanks again❤❤
Thank You So Much Sir 🐘
Wow, outstanding !!!
Thanks for the information 👍✌️
Very nicely presented sir
Wish it was this easy to structure salaries with employer.
Employer will pay 9 lakh as rent to landlord.... But who pay 9 lakh as rent out of 21 lakh salary...😅😅😅😅 Take practical examples