would be great to know some specific projects.
Even at 8% interest rate on fixed deposit, annual income will be Rs. 8 lakh ( after tax deduction Rs. 7.1 Lakh).
Nearly Rs. 59,000 per month, which can be considered a decent salary(like in a job). Is there any flaw in this concept?
Govt. job provides job security. But involves unpredictable transfers .Net starting salary is around Rs.45,000 with 3% growth per year.
In the above concept , one can stay in a place stably and do a job such as teaching in a college.
I run a small business in India and there are many expenses that are paid in cash but we do not get a receipt for it. When i report my income tax returns, can i include these expenses.
these miscellaneous expenses are max 15000 per month.
In India, What is the maximum amount of cash that an individual can keep with him legally without paying any tax?? I am salaried and have paid income tax. Over the years, i have got back the personal loans given to friends and relatives and it is in cash…Do i need to give tax for that amount again?? Or else, is there any governement regulation on maximum amount of hard cash(currency) that an individual can keep with him ( Not in a bank)??