look news india
Save Income Tax: A man from Karnataka went viral on social media after he gave a “financial advice” to salaried taxpayers to “save 100 per cent income tax”. Content creator Srinidhi Hande posted the satirical video on Instagram after the Union Budget 2024 was presented on July 23, explaining how salaried individuals can save 100 per cent income tax by “growing and selling grass to their employers”.
Hande's video, which has over 2 million views on Instagram, was also shared by chartered accountant Akhil Pachori on Instagram. Social media users could not stop laughing after watching the video, which is also going viral on Instagram.
“In this video, I will tell you how to save 100 per cent on income tax,” Hande said, listing three steps in a “very easy, legal and simple process”.
“First step: You have to grow grass in your house or on your balcony or your terrace, and it is a very legal process. Now, go to HR and tell them you don’t want any salary. They will be happy. Tell your HR that your company should buy grass equal to your salary. If your salary is Rs 50,000, maybe they can buy 50 grasses at Rs 1,000 per grass. It is a completely legal process,” Hande said.
Explaining the “logic” behind his advice, Hande said, “What happens now is, your income from salary becomes zero and you only have income from selling agricultural produce which is not taxable in India. This way, you can save 100 per cent on income tax. There is no need to worry about TDS or investments.”
The common sentiment in the comments section after the video went viral is, “Indians really do have a jugaad for everything.”
Finance Minister Nirmala Sitharaman changed the income tax slabs under the new regime in the Union Budget 2024 to make it more attractive. The standard deduction limit was also raised from Rs 50,000 to Rs 75,000, an increase of Rs 25,000.
