WebGiven India’s GDP and per capita income data, and the tax threshold, its taxpayer base is right. In our country of 130 crore Indians, only 1.5 crore pay income taxes. Millions evade taxes ... WebFeb 8, 2024 · As per the Income Tax Act, if the total income of a taxpayer is less than the basic exemption limit of INR 2.5 lacs, it is not mandatory to file ITR. Thus, an NRI should file ITR in India: * If Total Income exceeds basic exemption limit of INR 2.5 lacs * To claim a refund of TDS deducted by the bank on NRO Interest
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WebApr 12, 2024 · Zero tax payable for income up to Rs 7 lakh An individual opting for the new tax regime for FY 2024-24 will pay zero tax if the taxable income does not exceed Rs 7 lakh in a financial year. Further, an individual having taxable income up to Rs 7.5 lakh can claim the benefit of standard deduction of Rs 50,000. WebThe possible deductions can be anywhere from ₹25,000 to ₹1,00,00. Senior citizen parents get the maximum tax benefit of upto ₹50,000. Additionally, the tax deduction under this section can be... tierarzthelfer jobs
Filing ITR is important!?! Why to pay taxes when your income is less …
WebSep 5, 2016 · Each component is treated in a different way for tax purposes and can impact your tax liability. 1. BASIC SALARY It is vital to decide how much of your CTC should make … WebMar 15, 2024 · The only advance tax due date deadline applicable to such taxpayers would be 15th March and such taxpayers would be required to pay 100% of their Tax liability by 15th March. Payment of Advance Income Tax is to be made through Challan No. 280 by selecting Advance Tax (100) as the type of payment as shown below:-. WebJan 4, 2024 · So, if you’re earning Rs. 9.5 lacs per annum, the first step in your endeavor to pay zero taxes should be to claim the standard deduction under section 16 (ia) of the Income Tax Act. Your effective taxable income after claiming this deduction would be Rs. 9 lacs. Step 2: Deduct the interest you paid on your housing loan. tierarzthelferin hanau