Have doubt in tax payment (need indians views)

Discussion in 'General Chat' started by welligton_tiger, May 4, 2009.

0
  1. #1
    hi members, i live in india and my questions is, do i have to pay tax if my income exceeds 1.5lack per annum.
     
    welligton_tiger, May 4, 2009 IP
  2. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

    Messages:
    25,482
    Likes Received:
    1,943
    Best Answers:
    32
    Trophy Points:
    480
    #2
    Yes definately. But you will get excemption in tax for 1.5 lakhs + 1 lakhs investment in (tax saves mutual funds-ELSS + PPF + NSC + LIC). Why don't you consult any CA for this near to you ? CA surely gives you best idea to save tax :p

    DON.
     
    deluxdon, May 4, 2009 IP
  3. daffybugg

    daffybugg Peon

    Messages:
    124
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #3
    Why don't you consult any CA for this near to you ? CA surely gives you best idea to save tax.
     
    daffybugg, May 4, 2009 IP
  4. toxic321

    toxic321 Well-Known Member

    Messages:
    755
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    103
    #4
    yes u hav to pay tax when ur income exceeds the limit
     
    toxic321, May 5, 2009 IP
  5. getjimmy

    getjimmy Prominent Member

    Messages:
    17,260
    Likes Received:
    1,005
    Best Answers:
    0
    Trophy Points:
    360
    #5
    I don't think there is any tax issues for online earnings.
     
    getjimmy, May 5, 2009 IP
  6. anildewani

    anildewani Peon

    Messages:
    1,132
    Likes Received:
    66
    Best Answers:
    0
    Trophy Points:
    0
    #6
    Yes, you have to pay tax if your income exceeds 1.5lakh p.a
    but there are many things to learn about tax and stuff, better consult some expert for your benefit :)
     
    anildewani, May 5, 2009 IP
  7. welligton_tiger

    welligton_tiger Well-Known Member

    Messages:
    126
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    101
    #7
    thank you all but then again how will they find out that i have exceeded my income because i dont work in company and doesnt have a hard copy for income.

    and @getjimmy: have you exceeded your limit?
     
    welligton_tiger, May 5, 2009 IP