Of course, the more members there are, more is the "total" non-taxable income. If you have 100 children, you will pay no tax upto 2.5-2.8 crores, depending on how many boys / girls you have.
RE:What a joke
by Dilip jhunjhunwala on Jul 30, 2008 02:26 AM Permalink
this is the most practical, open and clear article that reveals not only smart and practical way of tax savings but also the way that is adopted by many taxpayers. I appreciate the open explanation that we all (including me) have been doing. IT IS NOT A USELESS ARTICLE AND U DONT MAKE ANY SENSE BY FURTHER EXEMPLIFYING THE FIGURE THROUGH INCREASED NUMBER OF FAMILY MEMBERS.
RE:What a joke
by rahul roy on Jul 30, 2008 04:56 PM Permalink
but all this is applicable to salaried person?? how this article is useful to salaried person??
RE:What a joke
by Deepak Shenoy on Jul 31, 2008 10:57 AM Permalink
You bet - nearly useless, because it's some random theoretical article that can't be applied. (Major children included in the family? What age are we living in?)
Maybe if you run some kind of own business, you can pay each family member a salary and yourself and earn this much tax free - but it's not much use to those that have disproportionate distribution of income.
One thing though: If you are the most taxed person in your house, you should gift your post tax savings to your spouse for them to earn interest income (so they get taxed lesser)
RE:huf
by jbmedicalhall on Jul 29, 2008 05:07 PM Permalink
yes u can have 2 huf files, with u being the head of the family in one file and ur father being of the other file.
it is beyond understanding why cnn-ibn is sitting on the tape it took on the bribery of bjp mps. not only that, it published an article in hindustan times (where sagarika ghosh and rajdeep sardesar both write columns) that the tapes content are not blurred. so media is also part of the game
RE:CNN IBN
by rangdebasanti on Jul 29, 2008 08:26 PM Permalink
i think CNN IBN is quite quite smart... much smarter than Cong and BJP. But eventually they have to either abandon the tape or release it to the public..
Mr Lakhotia - please explain how my income becomes exempt by gifting, as my income is already post tax even before I can gift it to family due to deduction of tax at source. Completely bogus and fraud article at least for salaried individuals.
RE:tax is Deducted at Source
by rakshmi bhatia on Jul 28, 2008 05:34 PM Permalink
I think Anand is right. This seems to be ok with business persons. But then they adjust their salaries in various ways. But , for salaried person it won't work as you said, as it is always TDS for salaried people). I request you not to pass incorrect information to comon people.
RE:tax is Deducted at Source
by M S Reddy on Jul 28, 2008 09:20 PM Permalink
This is all waste information for salried person. almost same kind of article last year the published it. Anand is correct it is no use.
RE:Pay Ur Taxes...this is for the good of ur own Motherland...
by madhu sudhanan on Jul 27, 2008 06:19 AM Permalink
Anyway they (GOVT staffs and Politicians are cheating us and grabing our tax money) so cheating them is not bad
RE:Pay Ur Taxes...this is for the good of ur own Motherland...
by Asim Prabhu on Jul 28, 2008 03:18 PM Permalink
Agree with you Varghese. That is a nice reply man. Agreed that tax planning is very much in these days. Still each one should make some contribution to the nation no matter if miniscule. This article is worth a ridicule. 13.10 lac income is not small in todays date man. What example is rediff trying to set. Too Bad :(
I strongly wish to develop a software that will enable the govt. to pull tax from each and every individual without any concessions and delays.
