Budget 2024: The country’s budget for the financial year 2024-25 has been presented. Finance Minister Nirmala Sitharaman has given some relief to the people involved in the new tax regime without making any changes in the old tax regime. However, a large section of the public is unhappy with the decisions taken on capital gains tax and indexation benefit. People have become vocal about income tax on social media. These days one such video has gone viral, in which a blogger has advised to save 100 percent tax. He has also given a 3-step formula to save tax.
Advice given to job seekers to grow grass
Travel blogger Srinidhi Handa, who lives in Udupi, Karnataka, has posted this video on the social media platform X. In this, she has advised salaried people how they can save 100 percent of their tax. For this, she has advised working people to grow grass. After this, you tell your HR that you do not want salary in exchange for work. However, the company will have to buy that grass from you. You can take an amount equal to your salary from the company in exchange for selling the grass.
There is no tax on income from agricultural products
In the video, he further says that since there is no tax on the income from selling agricultural products in India, the money received from the company in exchange for grass will be income tax free. Now since you are not taking a salary, the government will not be able to take income tax from you. After this, you will neither have to worry about TDS nor investment. You can comfortably enjoy your earned money. This funny video has surprised people on social media. Some people have even appealed to the government to close this loophole. Along with this, people are also having an interesting discussion on the tax system of India.
Salaried Class, this video is for you…
How to save 100% income tax ???#Budget #Satire pic.twitter.com/UZBzuPNklV
— CA Akhil Pachori (@akhilpachori) July 25, 2024
Tax slabs were changed in the budget and Standard Deduction
Finance Minister Nirmala Sitharaman had described the budget as a relief to the middle class. Along with the change in the tax slab, she had also increased the standard deduction to Rs 75,000. It is being claimed that those earning up to Rs 7 lakh will not have to pay any tax. Apart from this, there was talk of providing relief to the middle class with the help of subsidy on education loan up to Rs 10 lakh and cheap houses.
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