Because he can earn way more in India! Let me tell you the real picture. I assume that ‘abroad’ means Bay Area (which isn’t a bad assumption) A typical engineer in Bay Area receives $100,000 as salary. The tax rate in the Bay Area is 35% (40% in San Francisco city). So you are left with $65,000. Even for a shack like house, you will have to pay $20,000 as rent in the Bay area (find out yourself!). So you now have $45,000. $1 = Rs. 67 (roughly), but the actual value of $1 is Rs. 30. For example, a Rs.450 pizza in India will cost about $15 in the Bay Area. So, $45,000 is less than Rs. 15 lakh in India. Read:- top ias coachings in delhi Tower research capital pays Rs. 40 lakh per annum. Of course he will be paying a tax of 30% on that income of 30 lakhs (in India, you pay 30% tax on whatever you earn above 10 lakhs). But even after deducting taxes and other expenses, he will be saving more than what he saves in the Bay Area. How did I get those stats? I stayed in the Bay...
Comments
Post a Comment
Add your comment here