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How to calculate INCOME TAX 2006-2007 financial year?


How to calculate INCOME TAX 2006-2007 financial year?

For women:
Upto 1.35 L - 0 Tax
1.35 - 1.5L - 10% of amount exceeding 1.35L
1.5L - 2.5L - 20% of amount exceeding 1.5L
more than 2.5L - 30% of amount exceeding 2.5L

For senior citizen:
Upto 1.85 L - 0 Tax
1.85L - 2.5L - 20% of amount exceeding 1.85L
more than 2.5L - 30% of amount exceeding 2.5L

For Others:
Upto 1 L - 0 Tax
1 L - 1.5L - 10% of amount exceeding 1L
1.5L - 2.5L - 20% of amount exceeding 1.5L
more than 2.5L - 30% of amount exceeding 2.5L
Get all the new information from the local government first. Like any tax rate change ( increasing !! never see it decreasing for all the countries in the world ). And some exception (no more taxable item) that apply to your business or some item becomes taxable in 2006-2007 and all extra fees.
If you asking for personal income tax 2006-2007, too bad,tax form is not ready. Using previous year as a reference and add a certain percentage according to your local government past history.
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