The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>India Taxes

Who pay Income tax ?


if so, & People group and property diffination tax pay reterned?

persons earning an annual income above Rs.110000. They have to pay it @ progressive rates.

for income from other sources 30% tax on the income to be paid directly.

Man who earns More than 1lacs and Woman who earns more than 1.5 lacs.

Any Individual or group of Individual or artificial bodies who/which have earned income during the previous years are required to pay Income tax on it. The IT Act recognizes the earners of income under seven [7] categories. Each category is called a Status. These are Individuals, Hindu Undivided Family [HUF], Association of Persons [AOP], Body of individuals [BOI], Firms, Companies, Local authority, Artificial juridical person.

Tags
  United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business
Related information
  • My yearly income is Rs-101160,Is my Salary is Taxable?

    For this running financial year 2007-08, the tax exemption limit for Male individual is Rs.1,10,000. So your salary is not taxable. You can tell your company not to deduct TDS as your income is b...

  • How much amount I will be getting after TDS Deduct from my salary which is 101160 per annum?and when?

    You will receive your entire salary Rs.1,01,160. Your company is not suppose to deduct any TDS on your salary. For this running financial year (1-4-2007 to 31-3-2008) the tax free amount for male...

  • I got PAN number, but i didnt get my PAN Card....?

    Even I have checkup your PAN card status. It is showing as you said. Many times it so happens they will give it in dispatch section and the dispatch section will delay it. I am giving you a phone ...

  • If a guarantor repays housing loan in case the person who took loan did not, will he get tax exemption??

    No. Not allowed. The house and the housing loan should be in the name of the beneficiary.

    ...
  • What are the rates of vat at the time of sales?

    Vat rates depend upon the Category and product classification ,its nothing about quantity and amount .Rates are 4%,12.5% so on according to product.

    ...
  • When are the income tax refund expected this year?

    Normally the refunds starts in two to three months after filing due date is over. In some cases they will not refund the amount by mistake or due to some technical reasons. ...

  • Normaly how many days taking for the pan card.?

    It takes about 15 days to get a new PAN allotted. However, PAN can be obtained in around 5 days if application is made through Internet and processing fee paid through credit card. It is advisable ...

  • I am a resident of India, if I send money from USA to India through western union, do I have to pay any taxes?

    you were given money then want to sent that gift from the US to India via Western Union? Am I correct. 1) how much was the "gift" you received? 2) you can send any amount via weste...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster