Basics of Personal Income Tax with Mr. MS Shabbir of SENSAGE Financials

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This Friday, SENSAGE Financial Pvt Ltd Founder and Promoter Mr. M S Shabbir in his weekly talk with Mr. Akram Hoque, Founder Editor, The Policy Times (https://thepolicytimes.com) shared the basics of Personal Income Tax highlighting the followings –

 

  • How does the government collect taxes?
  • There is a general misunderstanding that a person earning Rs12 lakhs will pay 30% tax on Rs 12 lakhs i.e. Rs 3.60 lakhs. Is this correct?
  • What are the important dates in connection with ITR filing?
  • When does an individual have to file the return?
  • What are the different heads of income?
  • How many different categories of individual tax payers are there? How many tax slabs are there and what are the different tax rates?
  • How much tax can one save if he invests Rs 1.50 lakhs which is the maximum limit under Sec 80 C?

 

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