Posts

Showing posts from October, 2021

New income tax slabs in budget 2020 (for FY 2020-21)

  New income tax slabs in budget 2020 (for FY 2020-21) Taxable Income Range (In Rs.) Tax Rate before Budget 2020 (Old regime) Tax Rate after  Budget 2020 (new regime) 0-2.5 lakh Exempted Exempted 2.5-5 lakh 5% 5% 5-7.5 lakh 20% 10% 7.5-10 lakh 20% 15% 10-12.5 lakh 30% 20% 12.5-15 lakh 30% 25% Above 15 lakh 30% 30%

Zero Tax on Salary Income INR 20+ Lakhs? Legal Way Here…

Image
  Zero Tax on Salary Income INR 20+ Lakhs? Legal Way Here… The income tax provision is applicable to all the individuals who have been eligible to the income tax bracket as decided by the government of India. The income tax slab starts from INR 5 lakh for individuals having income on a yearly basis. There are also certain provisions and deductions which can be done to save the taxes on even the eligible income tax bracket. Here in the blog post, we would be finding out ways to  save income tax  even if the income surpasses the INR 20 lakh limit which is seen as a high-income bracket and this CTC also attracts higher tax than the lower bracket. However, we would be doing a detailed analysis on this particular tax-saving technique and would recommend going once through the post. We are here to help by making your tax liability zero even if your cost to the company (CTC) is Rs 20.41 lakhs per annum for FY 2021-22. Suggestion to Consider for making Income Tax Zero when Income is Rs 20.41 L