Back

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?

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

New Tax slab: 0-4L-0% 4-8L-5% 8-12L-10% 12-16L-15% 16-20L-20% 20-24L-25% 24L+30% People with income up to 12L will pay 0% income tax.

Financial knowledge Indian Tax slabs Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown: 1. Nil Tax: Annual income up to ₹2.5 lakh for individuals below 60 years. 2. 5% Tax: I

Ever wondered how much tax your favorite cricketers pay? Interestingly, a major chunk of their income comes from brand endorsements!

🧾 TDS, Advance Tax & Refund — Simple Summary TDS (Tax Deducted at Source) is tax cut before you receive your income (like salary, interest, freelance payments). It’s paid to the government by the one who pays you. Advance Tax is tax you must pay i

There is no income tax upto Rs. 12 lakhs of income. Great news. Now I just have to figure out how to earn an income of Rs. 12 Lakhs!

income tax department ki press release

You still have to pay taxes if your income is below 12Lakhs.💀 Let’s talk about a crucial detail in the recent Indian Union Budget that many people are overlooking. If you’re already aware, great! But if not, this is essential to know—otherwise, you