Tax Saving Tricks used by Employees of Big MNCs in India | CA Sahil Jain
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- Опубліковано 18 жов 2022
- In this video, we will see how employees smartly structure their salary to save a good amount of their payable taxes.
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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! ❤
👍
@@darck0de 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?
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.
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 🙂
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
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 ?
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.
Aaj kuch naya sikhane mila, itne asani sein samjhane ke liye thank you.
Happy Diwali to all of you.
Loved ur new gesture ki aapne video ke last m haath jod k bye bola❤
I got My Answer, which was in my mind and even asked you before. ❤️
Thank You. 👍🏻👍🏻
Freaking excellent video! Can't believe that taxation can be taught so interestingly.
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
@@CAYASHSPATEL true💯
Go for it
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
Excellent flow and knowledge sharing. Thanks a million 🙏💐
Very helpful ..your coherence and clarity of presentaion is commendable ❤
One of the best CA channels in UA-cam
That's Wonderful, Sir!
Seedha and sateek answer for tax saving.. Thank you sir for the amazing video.
Mazaa aaya Sir
Felt nice about the way we can use what we study to save our own money !
This video is worth saving for future references.. Thanks !!
your videos deserve millions of likes and views.
excellent content sahil sir, keep on educating like this, wish u luck ahead.
Video se bahut achha knowledge nikal k aya 😉
Amazing delivery sir! Really the whole thing was so beautifully explained.
You have a very charming way of delivering lectures. The content is very valuable too. Keep up the good work.
This section seems like magic for tax planning
Top notch video. Thanks
Case - 3, completely depends on company
Case -2, mostly this will work
Sahil ur way of speaking is excellent
Wow, outstanding !!!
Again awesome video sir ❤️🙏
Thanks sahil, this is informative and new way of tax saving with a little gain of knowledge
quite unique way, didnt knew about perquisite till now
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
It's my 8th time I'm watching this video ❤️ I just loved it the way you teach....❤️💫
i can only say Thank you so much..i will help us alot
Bahut Jaan Hain aap ki baat and looks mein.
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
I have nothing to do with CA course, but this was really useful to know
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. ❤❤❤❤❤
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.
you are too good to explain things like a layman
One of the best tutor
Thank You So Much Sir 🐘
I am from medical background and still loving his lecture....incredible
amazing knowledge for ca aspirants
Simple beautiful intelligent speaking looking and informative presentation.
This is the reason why we see your video to know more about which things and where we save tax throughs seen your video
Sir, similar to the example of telephone reimbursmemt treating as perquisite and allowance, please clarify if ltc which is a perquisite and can be claimed as exemption , if given on adhoc basis prior to incurring of any exp as an allowance whether the exemption can be claimed???
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.
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.
Thank you sir.
sahil bhai tu toh tagda ho gya yaar
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.
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🥺
Very Good content Sahil
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
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
Very well explained...!!
Hello Sir, The content was awesome. I request you to make more videos for the salaried employees for tax benefits.
Thanks for the information 👍✌️
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
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.
Very nicely presented sir
Really good knowledge
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.
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 😂
Awesome sir
Sir, is the bonus paid at the end of financial year considered part of the salary or considered separately?
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❤❤
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.
Awesome, ❤️🙏🏻
Thank you
Sir, living in parents house, can I ask my employer to pay them directly my house rent is good option?
Great video sir🙏🙏🙏🙏
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
mindblowing
But sir in third case when showed as perquisite the said property will be owned by employer or employee?
Sir, please make more videos on Tax savings for employees.
usefull knowledge for tax saving
Amazing sir 🔥
Great Content.
but next year increment will be based on base pay so low base pay
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! :)
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.
Thank youuu!
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.
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..
Great video just a question for company lease there is a GST applicability how to save that?
Wish it was this easy to structure salaries with employer.
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. 🙏
Thanks
Sir, kuch companies wellness allowance deti hai and for that you buy something related to your health and get it reimbursed along with your salary. But voh tax salary + reimbursed pe lagate is it valid ?
Helpful
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.
Agar home family member ke naam pe hai toh use aa a rent claim kar sakte hai
is it similar to system offered by companies known as "Flexi Basket Benefits"?