Claim Tax against your Netflix subscription! How?
Are you taking any online courses, or paying for any content to keep yourself updated? Good! But did you know that you can show these as expenses in your income tax?
All you have to do is ask your HR to give you a research allowance(RA) in your salary structure. The company doesn't have any additional costs for giving you RA.
But you can claim RA while filing for tax. Suppose you have paid ten thousand rupees for some course, then you can claim those under RA. If you come under 30% tax bracket, you will save three thousand on income tax.
A good thing is there is no cap on RA. As long as your employer allows it and you have paid for relevant courses/ books/ subscriptions, you can claim your RA.
You can claim for online courses on Coursera, Udemy and paid memberships of ET prime, The ken, Morning context.
If you and your company think that you must have Netlfix/Hotstar/Prime subscriptions, you can claim those as well :)
In short, ask your company to give you RA. Then claim it in tax filing and get additional 20/30% discount on your purchases!
(Oh and if you've subscribed newly and want to learn fundamental investing for free, you can do it here: Twitter!)
Mid-Week Wisdom:
“An investment in knowledge pays the best interest.” —Benjamin Graham
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