RE:Wrong calculation shown for Women.
by Rizwanur Rahman on Mar 04, 2008 12:59 PM Permalink
Hi, Dear, Read it carefully!!!!!!!!!! the existing limit of woman & man...then you will find the exact diff.
a very generic query on tax for annual income group more than 5 lakhs ... as follows:
the total tax for this group would be =>
tax calculated based on slab upto 5 lakh (i.e. 47500/- as per above table) 30% of the amount exceeding 5 lakhs
e.g. if a person has a gross annual income of 6,00,000/- per anum then his annual income tax will be => 47500/- (upto 5Lakhs) 30000 (i.e. 30% on the remaining 1,00,000).
RE:tax for above 5 lakhs income ...
by siddharth on Mar 04, 2008 01:37 AM Permalink
surcharge will be added for 5 lakhs above salary. So it will be 85,000 plus surcharge for 30,000.
I am Physical handicaped person (42%)and my income is Rs. 280000/- please tell me how many tax will be paid by me in the next financial year and can i eligible to take physical handicaped benifit?
RE:I want some Tips from you
by LoudVoice on Mar 03, 2008 05:23 PM Permalink
Normal 1.5 lakhs is tax free. Additionally you will get tax benfit of 50,000 for handicapped. 15000 Medicals around 10000 traveling allownace remaining you can show as rent(HRA). You don't need to pay single rupee as tax. If your salary increase to 3.5 lakhs then you can invest upto 1 lakhs in 80C. On 3.5 lakhs alos ur tax liabality will be zero.
I have a property in Kandivali (E) purchased 2 years back for investment. I heard that there may be recession in property market. Please suggest me as to should I Sale this property or wait for better price ? Thanks, Sunil
RE:Please Suggest
by mj on Mar 03, 2008 12:28 PM Permalink
looking at the present scenario, and the sky high prices, I suggest you sell the property. In six month's time I predict a huge drop in property prices. best of luck.
RE:Please Suggest
by Kavita rag on Mar 03, 2008 03:46 PM Permalink
the current rate is the best you can get. You may have to wait for another 6-7 years to reach the same level of price once the recession kicks in.
Hows the Indian IT job market now a days, after the impending US recession news.... Is it a good time to look for a change at middle management level ?
Are there any comapanies recruiting these profiles?
RE:Pls calculate my tax
by I xx on Mar 02, 2008 09:58 PM Permalink
Your CTC has nothing to do with your Tax.It is your gross salary that matters. I think it's only India where there is this stupid concept of CTC; its was just made to make your salary and ego look apparantly bigger.
Apparently, this budget is focussed on pleasing the general public thereby get them to vote for the congress. It is another form bribe!!! Bribing is a criminal offence!!! Also how congress is going to get 60,000 crores to write off farmer's loans? Ideally they should earn the 60,000 crores, by running all their public sector units more profitable and generate their own profit and pay rather then paying this from hard earned tax-payers monies . People and industrialists and business house pay tax, not to be used by the government to enlist the voters for the impending election. Theypay tax, for the government to judicially build infrastructors, roads, generating electricity energy etc etc. Again the government is setting a very bad preceedent by going soft on farmers who most often use the loan monies for theri own personal ends like marriags, bilding houses instead pumping into farm lands creating more crops. Now farmers are going to become ir-responsible because they know their loan are going to be written off! They would also expect the same from the new government if itis formed another party other then congress!!. Is is the same gimmick Karunanidhi applied by bribing tamil nadu people with colour television for purchasing their votes!!! INDIA IS GOING TO DOCKS. How itis going to become super power if indain people are having this attitude
RE:BUDGET
by Dhaval J on Mar 02, 2008 06:32 PM Permalink
ya i m with u dear as u see the statistics only 2006-07 had a good graph what about before that...
RE:BUDGET
by Dattatreya Govindappanavar on Mar 03, 2008 09:12 AM Permalink
I agree with you to some extent. I definitely know that there are lot of farmers, which will be benefited. I come from village and know the situation of farmers, but my family do not do any farming (disclaimer). I do not think that FM is proposing to give money from tax collection, but other means. I read in few articles that it could be by raising money from bonds. As far as reducing tax brackets, it is an intelligent move by FM to keep the economy growing stronger. I think it is doing in the footsteps of USA, where President Bush has announced an economic stimulus package where every tax payer will get a minimum of $600 if they fall within some income level. I would be getting $1800 (filing jointly- $1200 and 2 kids - $300 each). So, FM has taken similar step and this way FM is trying to encourage spending and get some votes also :-)
RE:BUDGET
by Virendra Singh on Mar 03, 2008 10:13 AM Permalink
You are absolutely correct Mr. Krish. You should not accept this BRIBE and should continue paying the taxes with older rates. Best of luck to your HONESTY.
RE:BUDGET
by Santhosh Paul on Mar 03, 2008 05:42 PM Permalink
Hi Virendra, He's not against Income Tax cut. He's against waiving off farmers loan without any background check.
