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Tuesday September 2nd 2014

Budget 2008 gives 44000 Tax releif a year for retailers

Coming year there is a tax releif of 44000 – which can be invested or spent
Any male earning up to Rs 5 lakh a year will save Rs 44,000 as the tax percentage on a total as come down by 11 percent.
>For women, the difference is Rs 43,500 per annum.
>For senior citizens it is up to Rs 39,500 per annum.
>If you are buying medical insurance for your parents you get additional deduction upto 15000 added to the 100000 deduction that you have.(Section 80D )

Income

Old Tax

New Tax

Rs 2,50,000 (14,000) Rs 24,000 Rs 10,000
Rs 5,00,000 (45,000) Rs 1,00,000 Rs 55,000
Rs 7,50,000 (44,000) Rs 1,74,000 Rs 1,30,000
Rs 10,00,000 (45,000) Rs 2,49,000 Rs 2,05,000