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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