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 • 2m
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
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?
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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CA Jasmeet Singh
In God We Trust, The... • 2m
10 Important Tax & Exemption related Pointers that a Startup Founder should Know.