(MENAFN- Live Mint) All your queries on how to save income tax could probably have a solution as Karnataka man shares popular "hack". Kerala content creator Shrinidhi Hande's satirical video about the same, has gone viral online.
The video comes days after the 2024 budget announcement by Finance Minister Nirmala Sitharaman, introducing major changes in the new tax regime. Ever since, how to save tax, has become a hot topic of debate and jibe.
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A resident of Udupi, Hande starts off his video by claiming that income tax can be save through a“very easy, legal and simple process.” What follows, is a detailed step-by-step list.
'Grow grass in your home'
“Step one: You have to grow grass in your home or on your balcony or on your terrace, and it is a very, very legal process,” explained Hande.
“Now, go to the HR and tell them you don't want any salary. They would be happy. Tell your HR that your company should buy grass from you to the tune of your salary. If your salary is Rs50,000, maybe they can buy 50 strands of grass for Rs1,000 each. Completely legal process,” he added.
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“Now what happens, your income from salary becomes zero and all you have is income from selling agricultural produce which is not taxable in India. This way, you can save 100 per cent on income tax. No need to worry about TDS or investment,” the content creator concluded.
While sharing the video on Instagram, Hande added a disclaimer: "Written with humorous intent only.” He also thanked Instagrammers for a million views.
The satirical, and hilarious video has gained some equally hilarious reactions on Instagram, where it has clocked a whopping 2.5 million views since being shared on July 23 , the same day Union Budget 2024 was announced.
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Several users took to posting funny commnets. One user questioned about whether it“ should be called grass salary, or gross salary.” Meanwhile, another person joked“I did, HR called police, asked me what type of grass it is that I am trying to sell in 50k.”
With all seriousness, one person highlighted a loophole that Shrinidhi Hande had missed:“Agricultural income from agricultural land only is exempt from income tax.”
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