Tax calculation has never been so easy and fun! Efficient tax planning made possible for FREE!!! Why "MyTax India" ? As responsible tax paying citizens, we can be proud of our role in developing the country. Achieving your financial goals is contributing to the progress of the Nation. ...
TDS on FD interest income is calculated at 10% of the interest earned if it exceeds a certain threshold. For individuals under 60, the threshold is ₹40,000, while for senior citizens, it is ₹50,000. If your total taxable income is below the exemption limit, you can avoid TDS dedu...
In India, the tax levied on income is applicable at incremental rates as per income tax bracket. This means that lower-income is taxed at a lower rate (including nil rate) and higher-income has a higher income tax bracket rate. Income Tax Types In India |Source: Policy Bazaar Today, inc...
However, there was an exception made for the new slab. Moreover, the exception applies to Senior persons over the age of 75. Those senior individuals who rely heavily on their pensions and other sources of income have been spared from filing tax returns. And, banks will deductTDS (Tax Dedu...
No routine tax scrutiny for senior citizens, small taxpayersrahulPrint this
Case C: For resident individual of 60 years or above (Senior Citizens)Upto Rs. 2,50,000 NilRs. 2,50,001 to Rs. 5,00,000 10 per centRs. 5,00,001 to India Tax Calculator FY2012-13更新内容 v2.1.2: Fixed rebate calculation issue (under Section 87A).v2.1.1: Fixed a crash in ...
Case C: For resident individual of 60 years or above (Senior Citizens)Upto Rs. 2,50,000 NilRs. 2,50,001 to Rs. 5,00,000 10 per centRs. 5,00,001 to India Tax Calculator FY2012-13更新内容 v2.1.2: Fixed rebate calculation issue (under Section 87A).v2.1.1: Fixed a crash in ...
Income tax is a type of direct tax levied on the working citizens by the Government of India. The Income Tax Act of 1961 grants the Central Government the authority to regulate and collect such tax, based on the Union Budget. As earning individuals, firms and associations, we are well awar...
For the senior citizens of the country, the Indian government has also established a lot of changes that will help minimise their financial burden: The exemption of interest income on pre-payments made in banks and post offices has been increased to Rs. 50,000 from Rs. 10,000. The deductio...
Paying tax is inevitable, be it for an individual or a business. Tax is levied on the income earned by an individual or business after certain deductions. Due to multiple income tax slab rates combined with many tax exemptions and deductions, calculation of income tax can be a challenging tas...