Tax FAQ
 

I'm A Salaried Person & A Tax Payer. I'm Doing Intraday Share Trading Also. How My Tax Will Be Calculated?

Question by sri | Posted in India

How I as read to pay the intraday share trading tax value? It should pay along with the salaried tax value? (or) It will be deducted from the concern which is provided the demat account on the transcation underpinning. If not, What is the formalities to file the tax?

Answer: there are mass of taxes implemated when you trade....service tax, stt and other taxes deducted on same day...while tax on intraday profit will be shown by you while wadding ITR.
 
 

How Tax Is Calculated For Salaried Person?

Question by amit_starfortitude | Posted in India

I m a salaried ourselves n dnt pay tax as i dnt knw much about it. Wht is tax n how it is calculated? How banks give the interest on saving account? How much? What r good short term investment drawing? Please let me knw i m a beginner in this. Thanks in advance!

Answer: Salaried peoples (or unofficial person) tax is calculated according to a table - just look it up. Ask an accountant or member of the bar in India, the answer will be more to the point.
Peace.

Related Topics:

Pension Contributions Tax
Commercial Real Estate Tax
Southwark Tax

 
 

Why Don't The Government Make Liberal Income Tax Laws For The Salaried Class In India?

Question by Polestaraura | Posted in India

The salaried pedigree in India usually have limited source of income, yet this class have got to burn mid-non-stop oil and be always on the lookout for new investment opportunities through which they may save for the rainy days as well as get some rebate in Proceeds Tax under various Sections of Income Tax laws unlike big industrialists, businessmen, veil stars and some sportsmen, a good number of whom often cheat Government in paying Proceeds Tax or become defaulters, as reported in the newspapers

Answer: Well-founded wait for one year. The new liberalised "Direct Tax Code 2009" is about to the presented in this budget conference of the parliament and is expected to be operative from 01-04-2011. This allows tax free income up to 3 lakhs if passed by the parliament.

Moreover, many cumbersome progress and sections are omitted and language is also lucid to understand by the common man/tax payer.

The only requirement from the salaried class is reintroduction of

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Ultra Tax
Partnerships Tax
Southwark Council Tax

 
 

What Are Some Ways To Save Tax In India For A Salaried Employee?

Question by wolverine_unreal | Posted in India

Other than stuffing it in pillows and sofas?

I'm a salaried virtuoso and will be working in India but the pay will be banked into my Singapore bank account as usual. The tax declivity is 30% so is there any way to minimize it by investing it in bonds or trusts?

Any links would help.

Answer: For earnings breakup to get maximum deductions, read:Income From Salary http://mytaxes.in/clue.php?topic=17.0
Read about Investments based Deductions from the Income: Section 80C, 80CCC, 80CCD, 80CCE http://mytaxes.in/marker.php?topic=24.0

Related Topics:

Car Tax Rebate
Windfall Tax On Retirement
Of Deferred Tax

 
 

What Are The Fees,on An Average, For Filing Income Tax Return For A Individual Salaried Person?

Question by Msd | Posted in India

How much does the CA or tax expert charge for a single person(salaried employee)

Answer: $35-$75 if you get a curb in the mail/ direct deposit. $200 or so for an instant refund.

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Car Tax Fuel
Hotels Tax
Santa Clara County Tax Collector

 

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