Was it a Budget of expectations?
The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime.
1. Standard Deduction Increase: T
Greetings everyone!
Let's learn about our tax system!
The Indian tax system is divided into two categories: Direct (income tax) and Indirect (GST)it's an unfair tax tbh.
It's because everyone pays the same tax regardless of their income. For example
One Tax Policy: A New Era of Taxation in India?
What if income tax was the only tax you had to pay? A system where individuals pay a fixed percentage of their income as tax, and in return, they are exempt from all indirect taxes like GST and service
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0 replies1 like
mg
News & updates • 1m
Only In India
If your Earn Rs 30 lakhs from Salary
You pay Rs 8 lakh Tax
If you earn Rs 30 lakh from buisness
You pay Rs 1.5 lakh tax
1 replies7 likes
Sanjay Srivastav. Footwear Designer
Hey I am on Medial • 1m
If your income is 12L, You pay 0 for the first 4L. From 4L - 8L i.e. next 4L, you pay 5% = 20,000. From 8L - 12 i.e. another 4L, you pay 10% = 40,000. Total Tax Payable= 60,000. Standard Deduction -75,000. So NO TAX FOR INCOME UP TO 12L. Get it?
Crypto Tax on gains is 30% in india. Incase of emergency what will you choose? Take loan on crypto and repay loan later or just sell crypto and pay tax or any other options you have?
18 replies10 likes
Shashank
Be a Unicorn • 1y
Suggest some ways to get a reach online teaching. And Suggest which kind of course that people have intrest to pay us.
3 replies5 likes
K
Ph • 10m
Income Tax Return Filing
When tax liability rises due to the receipt of arrears or additional payments, it typically happens because these amounts are added to the individual’s total income for the current financial year. This increase in incom
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0 replies5 likes
CA Kakul Gupta
Chartered Accountant... • 6d
Summary of action points Before March 31, 2025
✔ Review tax-saving investments.
✔ Pay pending taxes/advance tax.
✔ Submit investment proofs to employer (if salaried).
✔ Plan capital gains/losses for tax efficiency.
✔ Update financial records for the