30% income tax.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2010
A person's annaul income is 75lacs. He comes under highest tax bracket.Lets suppose that the total taxable income is 70 lacs and at rate of 30% the tax comes out to be 21 lacs.......
Now the person is not mentally prepared for paying such high tax...earning with hardwork and paying 30% back to gov...this is his dilemma.....
Are there anyways by which the tax amount can be reduced ?
Now the person is not mentally prepared for paying such high tax...earning with hardwork and paying 30% back to gov...this is his dilemma.....
Are there anyways by which the tax amount can be reduced ?
27 July 2010
It would advisable if the nature of receipt is known to advise on the same and TDS must have already been deducted on the same.
27 July 2010
i agree!
27 July 2010
Without looking into the details of source & mode of income, this answer will not be feasible.
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2010
The person is having business. The business is of trading in FNO.
He makes an annaul profit of 75 lacs.
Thus this income of 75 lacs is income from business.
He makes an annaul profit of 75 lacs.
Thus this income of 75 lacs is income from business.
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