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Perfection
BizHat Geek
Joined: 24 Sep 2006
Posts: 13470
Location: Pune
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 Posted: Thu Mar 01, 2007 4:15 pm Post subject: Income tax |
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Income tax rate in India has changed due to the finanacial Budget 2007.
Taxable income limit was increased from Rs 1 Lakh to Rs 1.1 Lakh. For women, it is Rs 1.45 lakh and for senior citizens is 1.85 lakh. For this amount, no tax is payable.
If your annual income is higher, you can save tax by investing it in Provident fund, Life Insurance of India policies, National Savings Certificates, Mutual funds etc (Savings maxi limit is Rs.1 Lakh). Donations to registered charitable agencies, Prime minister's relief fund etc. are exempted from income tax. |
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ftvfatboy
BizHat MOD
Joined: 28 Nov 2005
Posts: 2863
Location: AT DORRS NEAR HEAVEN
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| Posted: Sat Mar 10, 2007 5:13 pm Post subject: |
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good info
anyway i am paying it regularly |
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deweb
BizHat Newbie
Joined: 30 Apr 2007
Posts: 6
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| Posted: Mon Apr 30, 2007 9:39 am Post subject: |
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I wonder which country income tax is the lowest ?
and is it true the poor is the one whom suffer the most under the tax system ? |
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