$250,000 Income Tax ThresholdStephanie Horne
those earning between 5,00,001 to 10,00,000 are in 20% tax slab. Which means that they have to pay 20% of tax on their income. But they also get the benefit of lower tax slabs. So one with 20% tax slab gets exemption limit of 2.5 lakh, the benefit of 5% tax on income...
Under the Income Tax Act, a senior citizen is a person who at any time during the previous year has attained the age of 60 years or more i.e for a person who is of age 60 but less than 80 years on end date of financial year (for 2016-17 is 31-Mar-2017) will be considered as...
Can this income tax slab favors Indian citizens in terms of their overall expenditure and income? A lion share of Indian citizens anticipates a hike of income tax limit higher than Rs. 250000 per annum of this financial year 2014-15. Let us have a look on present income tax brackets duri...
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again if it exceeds the taxable limit then it's mandatory to file incometax return but you cannot consider any expenses however you can get Deduction as per 80C subject to TDS depends upon the employer where's you working or company
Capital gains, negative gearing and effective tax rates on income from rented houses in Australia This paper reports estimates of effective tax rates on rental property income in Australia. We consider three capital gains tax regimes - the current Austr... G Fane - The Australian National Universi...
Example: Afemaleemployee, say Ms Anjali,below the age of sixty yearsand has gross salary income of Rs. 2,40,000. She has made no tax savings investments during the year. Let us calculate her income tax liability. Woman with Income from Salary and Interest on Saving Bank Account ...
According to a provision inserted by the Finance Act, 2012, a resident senior citizen, who does not have any income from a business, would be exempted from the payment of advance tax.Advance tax is normally payable if the tax on one’s income is more than Rs 10,000 on what is deductib...