This method is not advisable for salaried people. Only business people with their own business can do this by dividing the 13.10 lakh salary between different family members and not giving all to just one person.
I also do the same. Instead of taking high amount of salary in my name, I give some amount to my wife and some amount to my mother's name.
I dont know how far it is true. but the govt official who are working towards this didnt notice this point. They must have surely taken some prevention plan to stop all that.
RE:Income Tax
by Neo on Jul 11, 2008 11:15 AM Permalink
file a tax returns. But you will get back only 47000. Rs 500 is processing fee and Rs. 500 is bribe.....
RE:Income Tax
by sss on Jul 11, 2008 02:51 PM Permalink
Rs 500 is not really sufficient....the prevailing rate in pune MWdPKis 10% of ur total refund amount (i.e. original refund interest)
This is crap and nonsense article. Atleast rediff people should think a bit before publishing this kind of article.. If some one has 13.1L income and he gives gift to other member of family, they don't need to pay tax but person giving gift need to pay tax of full amount including gift amount so it whats use of it? This is same article they published earlier also, why repeat nonsense articles?
