If you know anything about the internet, they will take anything to heart. This turned true for 19-year-old YouTube creator Ishan Sharma who asked his 42.8k Twitter followers if they had any tips on legally evading taxes. And rest assured, they pulled through.
Guys, I really want to evade taxes legally.— Ishan Sharma (@Ishansharma7390) April 4, 2022
Step 1: Call it planning, NOT evading.
Check out some mind-blowing tips that I know I’ll certainly keep in mind while filing my taxes:
1)PPF or ELSS fund— desi tolkien (@garvgoyal123) April 4, 2022
2) registering a company gives you many benefits like gst rebates and showing all your expenditure as company expenditure and show that even u get a salary but it should be very minimal
3)get insurance for urself
4)instead of directly spending money buy stocks and take a loan against it and spend that loan money you would save tax + keep stocks for 2years+ so u would have to pay only 10% tax— desi tolkien (@garvgoyal123) April 4, 2022
5) get a home loan and gets lots of benefits and get direct tax exemption of 2L annually
If you live with your parents, make a rent agreement with them and try to utilise maximum HRA you can.— Sourabh Patil (@sforscientist) April 4, 2022
Buying home will always help for section 24. Think of it! But stay in rented place with parents to claim HRA.
80C ka gyan toh sab pelte hai. Invest there as per necessity.
I have the most solid hack for saving taxes on crypto gains— Akshat M🕉 (@AkshatM8) April 4, 2022
1) use foreign exchanges and use only usdt/usdc, whenever you want to liquidate only then make it inr
2) if you are starting a buisness related to crypto/web 3, try registering the buisness in no cryto tax countries👇 pic.twitter.com/KfSvAp8l0D
Generate the Agricultural Income,,,which had no taxable limit,,,,— Avichal Srivastava (@smartoverthink1) April 4, 2022
Any type of business or Startup have paid almost 30-40% tax including GST
on Agriculture you save and invest the same
Create a company and get employed by it. Route all expenses through and pay corp tax on only (income – expenses), unlike how one pay tax on total income.— Gopi Krishna (@Gokrish_) April 4, 2022
Go to Dubai😂😂— Devanshu (@Devanshu25D) April 4, 2022
youtube income bhi aayega
no tax also
Maybe start with calling it “tax planning”— Vikram Poddar (@BoredRoomComedy) April 4, 2022
Rest assured Ishan is not another Jeff Bezos in the making. His post was meant as a joke!
In case you didn’t realise, I’m joking.— Ishan Sharma (@Ishansharma7390) April 4, 2022
Don’t tag @IncomeTaxIndia 😛🙏
The internet is so cute sometimes <3