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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?

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

GST Thread 2 What GST brings along with it - 1. Value added tax and no cascading of taxes - GST is only on the value added by the manufacturer and being a value added tax at each stage it avoids double taxation Example - If I purchase plastic fr

I think next civil war in India happens because of tax . We are facing this huge problem since 1947 and every government force only middle class people's for tax . According to reports only 3.5% people in India paying tax and other are just enjoying

When you work 70 hours a week to create a tax filing portal, and it detects your tax evasion ☠️ Suffering from success❤️‍🔥

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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

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.

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