Does Greed have a limit?
Does Greed have a limit?
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Salaried Middle class :-
Rs.
Nil slab...............2,50,000.
Std dedn. 40,000.
U/s 80C. 1,50,000.
80CCD. 50,000
80D. 25,000.
80L. 10,000.
Section 24. 2,00,000.
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Gross. 7,25,000.
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Salaried Middle class :-
Rs.
Nil slab...............2,50,000.
Std dedn. 40,000.
U/s 80C. 1,50,000.
80CCD. 50,000
80D. 25,000.
80L. 10,000.
Section 24. 2,00,000.
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Gross. 7,25,000.
_(Other benefits like HRA & LTC are over and above these!)_
So, you are not paying any tax on income upto Rs 7.25 lakhs !
On,another Rs.2.5 lakhs, you are paying only Rs12,500 tax@ 5% ! That makes it Rs. 9.75 lakhs!
On,another Rs.2.5 lakhs, you are paying only Rs12,500 tax@ 5% ! That makes it Rs. 9.75 lakhs!
So on first Rs.10 lacs one pays less than 2% tax.
Other benefits most of the Middle class families avail!
■ 100% Taxfree dividend income upto Rs10 Lacs
■ 100% Taxfree PPF interest (no cap)
■100% Tax free interest on Tax exempt bonds (no cap)
■100% interest repayment of education loan taken either for self, or for ward..U/s 80E
■ 100% Taxfree PPF interest (no cap)
■100% Tax free interest on Tax exempt bonds (no cap)
■100% interest repayment of education loan taken either for self, or for ward..U/s 80E
What more do you expect from the government ?
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