Enjoy Freedom from Tax Burden!
Income-tax of Rs.2,87,370 on Family Income of Rs.27,60,000
Average tax rate of just 10.4% – Myth or Reality?
INCOME TAX IS NO LONGER AS TAXING!
Just consider some tax facts of the past six years as highlighted hereunder:
- In FY 2004-05, taxable income exceeding Rs.1,50,000 attracted the maximum tax rate of 30%.
- Today in FY 2010-11, the basic Income-tax exemption limit is Rs.1,60,000 and the maximum tax rate of 30% is attracted only if the taxable income exceeds Rs.8,00,000.
- In FY 2004-05, the Income-tax payable on taxable income of Rs.8,00,000 was Rs.2,18,280, on the basis of which the average rate of tax worked out to 27.29%.
- Today in FY 2010-11, the Income-tax payable on the same taxable income of Rs.8,00,000 is Rs.96,820, resulting in an average tax rate of 12.10%.
Thus, during the past six years, taxpayers earning taxable income of Rs.8,00,000 or more, have effectively enjoyed a tax relief of Rs.1,23,600.
PPF MAGIC UNSTOPPABLE!
You Can Build Amazing Tax Free Capital
For Your Children Via Investment In PPF!
ELSS – A CHAMPION TAX WINNER!
Golden Opportunity To Reap Healthy Returns
Coupled With Valuable Tax Saving Benefits
Equity Linked Savings Scheme (ELSS) has emerged as an amazing new investment option, offering you the golden opportunity to reap healthy returns through equity investment via mutual funds, coupled with valuable tax saving benefits. If the choice is judicious, the timing is right and lady luck smiles on you, ELSS can be a champion winner all the way. (more…)
Tax Planning via Will
Your Will Can Be Strategically Designed To
Reap Valuable Tax Savings For Your Family
Tax Stimulus for Medical Insurance
An Individual Is Allowed Additional Deduction
If He Pays Premium For His Parents
Medical Insurance has becoming increasingly popular in India with the increasing cost of medical treatment and hospitalization expenses. The benefit of having a medical insurance is that by making a small payment of insurance premium, the proposer can cover the cost of medical treatment and hospitalization of himself and his family members in case of need.
Section 80D of the Income-tax Act provides for deduction out of the Gross Total Income of the taxpayer in respect of such medical insurance premium paid. The popular medical insurance policy offered by the General Insurance Corporation of India is the ‘Mediclaim Policy.’ Several private insurance companies recognized by the Insurance Regulatory & Development Authority (IRDA) also offer a variety of medical insurance products, the premium payment of which is eligible for deduction under Section 80D.
50% Depreciation on Car can drive amazing Tax Saving!
Recover 25% Of Your Car Cost In 2 Years
Through New Purchase By 30th September, 2009!
Planning to purchase a new motor car for your business or professional use sometime in 2009? Are you aware of the fact that buying your car by 30th September, as compared to any time on or after 1st October can have a huge impact on your resultant tax saving? (more…)