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| *Ostroff, Fair and Company>>>India Taxes |
How much monthly income is taxable..? |
How much monthly income is taxable..? If you are a dream girl, then you will not be taxed up to Rs.1,35,000, If your name is not correct and if you are a men, then you will not be taxed up to Rs.1,00,000/-. If your age is more than 65 years, then you will not be taxed till Rs.1,85,000/-. The said amounts are for each financial year. (For the financial years 2005-06 & 2006-07). Each financial starts from 1st April and ends on 31st March. Also you will get some more deductions like LIC Premiums, NSC purchases, Payment of PPF, Childern School fee, Re-payment of housing loan instalments (Principle portion) Ect. up to 1 lakh & Deduction up to 1.5 Lakhs on interest paid on housing loans. It depends on your tax bracket, which depends on your annual income, dependents, deductions, etc. if you are man then Rs 8333 permoth if you are a girl then 11250 permoth (just to creep into tax net) you pay taxes or not it depends on your saving, amount of income etc., Income tax calculations are done on a yearly basis - Financial year 1st April to 31 March. To check out the tax limits and slabs visit the offical gov. site http://www.incometaxindia.gov.in/... http://www.ezytaxes.com |
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