Hi, Can anyone tell me the concept of the income tax? How to calculate the IT for salary purpose? How can one be exempted from IT & what documents need to be sumbited?
From India, Mumbai
The tax depends on your salary and salary slab. As per Income Tax Rules

Latest Income tax slabs for FY 2014-2015

Calculate your tax based on the tax slabs for year 2014-2015. Detailed split for general, women, senior citizen etc are provided.

India Income tax slabs 2014-2015 for General tax payers and Women

Income tax slab (in Rs.) Tax

0 to 2,50,000 No tax

2,50,001 to 5,00,000 10%

5,00,001 to 10,00,000 20%

Above 10,00,000 30%

India Income tax slabs 2014-2015 for Senior citizens (Aged 60 years but less than 80 years)

Income tax slab (in Rs.) Tax

0 to 3,00,000 No tax

3,00,001 to 5,00,000 10%

5,00,001 to 10,00,000 20%

Above 10,00,000 30%

India Income tax slabs 2014-2014 for very senior citizens (Aged 80 and above)

Income tax slab (in Rs.) Tax

0 to 5,00,000 No tax

5,00,001 to 10,00,000 20%

Above 10,00,000

You need to submit Investment like PPF LIC which you have taken and Mediclaim etc to claim benefit of deduction

If you need any further details kindly contact me

Regards

Vinay

Email

From India, Mumbai
hi there i want to know detais about TDS ,WHERE WE HAVE TO DIDUCTED TDS ,HOW TO FILLUP TDS FORM , HOW TO FILE TDS RETURN PROCEDURE ? CAN U HELP ME IN SOLVING THIS PROBLEM ?
From India, Chennai

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