Wednesday, February 7th, 2018

 

Are you paying too much income tax? Here is how to avoid it

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Tax rates in India are not unreasonably high and there are enough tax breaks. Yet, every taxpayer thinks he pays too much tax. ET Wealth looks at how the effective tax rate has changed in the past nine years for various income levels. Current income is not comparable with past salaries, so incomes for previous years have been adjusted for inflation. Calculations assume that the taxpayers avail of the maximum deduction under Sec 80C, home loan interest, medical insurance and NPS contribution avaliable in the relevant financial years. All theRead More