Watch: Instagram user's 'sell grass to your company & save 100% income tax' idea cracks up the internet

Ever since Finance Minister Nirmala Sitharaman announced the budget, it has sparked considerable debate online. Many people are dissatisfied with the new income tax slabs, with a prevalent viewpoint being that the middle class is receiving the fewest benefits.

Interestingly, an Instagram user has come out with a loophole for salaried individuals and his video is going viral on the internet. He claims that 100 percent of their income tax can be saved by using his genius trick.

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Sell grass to your company and save 100 percent income tax: Here's the three-step process

In the video, he explained that by selling grass to their employers, individuals can save 100 percent tax. He also shared 3 simple steps.

Shrinidhi Handa, an analyst and travel blogger from Udupi, Karnataka, recently shared an unconventional idea online. His satirical advice presents a three-step process for avoiding income tax:

"Step one, you have to grow grass. You can do this in your home, on your balcony, or on your terrace. And it is a very, very legal process.

Step two: Tell your HR you don¡¯t want any salary. They would be happy.

Step three. Tell your HR that your company should buy grass from you to the tune of your salary. If your salary is Rs 50,000, maybe they can buy 50 strands of grass for Rs 1,000 each. Completely legal process."

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What is the idea behind it?

Handa suggests that by following these steps, one could effectively reduce their taxable salary to zero. He notes that income from the sale of agricultural produce is not subject to tax.

¡°This way you can save 100 percent on income tax. No need to worry about TDS. No need to worry about investment. Very, very easy. Legal, simple process,¡± he said.

According to Handa, following this method would make one¡¯s salary income effectively "zero." This is because income from the sale of agricultural produce is not considered taxable.

In his caption, he went on to mention a disclaimer that this obviously has a humorous intent. Watch this video here:

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The internet is quite amused by his video

The video, which amassed 2 million views in just a couple of days, garnered additional attention when chartered accountant Akhil Pachori re-shared it, expressing his admiration for the idea.

One user commented, ¡°Will it be called gross salary or grass salary? ?¡±

Another one wrote, ¡°Bhai aapka process follow kia , abhi jail me hu, kya karu. Please advice.¡±

A third one quipped, ¡°If this is implemented in the next assessment year Finance ministry will release a notification that grass purchased by company is outside the ambit of agriculture income and taxable at the rate of 20 Percentage.¡±

Also Read: Union Budget 2024: Here's how Indian stocks reacted