How does income tax work in India?? Thank you!!?



If you earn around 1,000,000 INR / a year, how much do you have to pay for income tax?

Thank you for information

How does income tax work in India?? Thank you!!?
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6 Replies to “How does income tax work in India?? Thank you!!?”



  1. Total income Rates
    Less than Rs 1,10,000 NIL
    Rs 1,10,000-1,50,000 10% of the total amount above Rs 1,10,000

    Rs 1,50,000-2,50,000 Rs 4,000 plus 20% of the amount above Rs 1,50,000

    Above Rs 2,50,000 Rs 24,000 plus 30% of the amount above Rs 2,50,000

    Hence for Rs.10,00,000/- (24000 plus 30% of 7,50,000 =2,49,000) if no tax planning and if you had already planned for Rs.1,00,000 u/s 80c then your liablility will be Rs,2,19,000

    Hope you can understand with the above illustration.

    good luck
    [email protected]
    http://www.geocities.com/pnkmurthy/lic.html



  2. Income tax does not work in India. We have to work for income tax.
    FY 2007-08
    110000 No tax
    40000 10%
    100000 20%
    750000 30%
    + Surcharge + Eduction Cess
    after a lot of deductions / exemptions etc.


  3. I have no answer, but I know the Q that can give you the answer.

    Q is:

    What is CONRESS’s role in Justice/Cost of Living/Edu/Eco/ Employ/Moral/Social..for INDIAN?
    CONGRESS has ruled for almost 94% time in post independance INDIA.

    What is it’s contribution of CONGRESS to INDIAN in:
    1)—-Justice to all especially POOR.
    2)—-Education for capable (not based on cast or creed)
    3)—-Economic development of the country.
    4)—-Employment for all especially needy (not cast based)
    5)—-Socialism ( people think together, feel for other)
    6)—-Moral education for child / police / politicians
    7)—-Patriotism ie “SELF IS OVIOUS, BUT COUNTRY FIRST”
    8)—-COST OF LIVING ie Non and Consumable GOODS.
    9)—-Fairness of ELECTION, selection of TOP Jobs.
    10)–Fainess in all offices like “JUSTICE FOR GOD or BAD, Opportunuty based on CAPABILITY not POLITICs”.





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