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)
