Actually people with over 12 Lakh income should get complementary Medial Premium by the government. If that happens, everyone would pay their taxes happily šā ļø
Budget 2025 expectations: Income tax relief buzz
Speaking on the expected rationalisation of the income tax slab, Pankaj Mathpal, MD & CEO at Optima Money Managers, listed out the possible income tax slab for the new income tax regime, which may bri
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Tarun Suthar
Ā ā¢Ā
The Institute of Chartered Accountants of IndiaĀ ā¢Ā 2m
You still have to pay taxes if your income is below 12Lakhs.š
Letās talk about a crucial detail in the recent Indian Union Budget that many people are overlooking. If youāre already aware, great! But if not, this is essential to knowāotherwise, you
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Hawk
Ā ā¢Ā
MedialĀ ā¢Ā 8m
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
Many of you have know that only less than 5% population in india, pays taxes. But there is reason for it. According to this economic times report, only 1.8 crore people earn more than 5 lakhs annually (~2%). And if you earn less than 5 lakhs, you leg
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Sanjay Srivastav. Footwear Designer
Hey I am on MedialĀ ā¢Ā 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?
Direct Tax collections for FY 2024-25 as of 17 September, 2024
Net Collections, YOY comparison
Corporate Tax : ā¹4.53 lakh crore, up 10.5%
Personal Income Tax : ā¹5.15 lakh crore, up 18.8%
STT : ā¹26,154 crore, up 96%
Other Taxes : ā¹1,812 crore, up
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Mahendra Lochhab
Content creatorĀ ā¢Ā 2m
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.
First platform fee was introduced and now even the government wants a cut. Why should I pay the government if I am already paying taxes on food? Wasooli bhai hai kya ye log? Karnataka govt needs a reality check.
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Hiral Jain
Content writerĀ ā¢Ā 9m
Arey Mubarak Ho aapki lottery lagi hai, woh bhi 1cr kii!!
We call this transfer payment in economics, it means the income that a person gets without providing service/goods.
We all know that all of our income is calculated in national income irrespe
