Here is the time to know how much you will be saving after declaration of new Income Tax Slabs. Good news is there will be good saving this year for almost every income group. Below tables enables you to let know how much you save this year:
Male Tax Payers:
Income: 1 Lakh
Savings: NIL
Income: 2 Lakh
Savings: Approximate 9000
Income: 3 Lakh
Savings: Approximate 25000
Income: 4 Lakh
Savings: Approximate 35000
Income: 5 Lakh - 10 Lakh
Savings: Approximate 45000
Female Tax Payers:
Income: 1 Lakh
Savings: NIL
Income: 2 Lakh
Savings: Aproximate 9000
Income: 3Lakh
Savings: Aproximate 24000
Income: 4 Lakh
Savings: Aproximate 35000
Income: 5 Lakh
Savings: Aproximate 45000
Enjoy your Saving but Spend Wisely...
Monday
Budget 2008 Revised Slab for Income Tax
Budget has been announced and brings some good news atleast for Salaried Employees due to the Slab for Income Tax have been raised that will inturn help individual savings. Here is the revised slab:
For Men Below 65 Years
Income Upto 1,50,000 = Tax Rate NIL
Income Rs 1,50,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
For Women Below 65 Years
Income Upto 1,80,000 = Tax Rate NIL
Income Rs 1,80,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
For Senior Citizens
Income Upto 2,25,000 = Tax Rate NIL
Income Rs 2,25,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
For Men Below 65 Years
Income Upto 1,50,000 = Tax Rate NIL
Income Rs 1,50,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
For Women Below 65 Years
Income Upto 1,80,000 = Tax Rate NIL
Income Rs 1,80,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
For Senior Citizens
Income Upto 2,25,000 = Tax Rate NIL
Income Rs 2,25,001 - Rs 3,00000 = Tax Rate 10%
Income Rs 3,00,001 - Rs 5,00000 = Tax Rate 20%
Income Above Rs 5,00000 = Tax Rate 30%
Sunday
Does Long Term Investment Help??
Any News Channel or Paper I view tells that everybody can get benefitted with long term investment. I am not sure what thay mean by long term. For example if somebody has started investing in mutual funds say 1.5 years ago I believe right now he will be in loss calculating current market condition. Do you think 1.5 years is not long term whereas if somebody who started 1.5 years ago but sell all his units 1 year ago will defenitely be in profit and I believe .5 years is defenitely not long terms. I believe its all about investing 30 minutes or so everyday to keep you updated and make your selling buying decisions. Experts comments please...
Subscribe to:
Posts (Atom)