Nowadays the new rule, how much tax should you pay the state for how much you earn? Every citizen of the state must submit taxes to the government in some way after doing business, employment or any income. Deliberately or unintentionally, you may incur government proceedings and penalties without paying taxes.
The government is also varying the amount of tax levied on the income of the individual every year. The state has also been collecting income tax from the individual in various ways. According to the government, the government has already fixed the income tax rate for the fiscal year 1/2. The tax due will be effective from 7th July. The rate of income tax provided for in the financial budget
Income tax for unmarried (yearly):
• Up to 1 rupees at the rate of 1 per cent up to Rs 1 lakh, in the case of Rs 1 lakh to Rs 1 lakh, at the rate of 1 percent for an additional Rs 1 lakh to 3 thousand rupees; Right up to Rs. 1 Lakh, up to Rs. 1, 9 thousand, up to Rs. In the case of 1 percent tax of Rs 1 lakh to Rs 1 lakh, you need to pay income tax at the rate of 2 percent ie 2 percent. This means that those earning Rs. 100,000 will have to pay Rs.
In the case of the married
1. Up to Rs. 1,00,000 / – up to Rs.
2. From 1 lakh 1 thousand to 1 lakh 8 thousand rupees at the rate of 1 percent to 1 thousand 5 thousand rupees
3. In the case of Rs. 1 lakh to Rs. 100,000 to Rs.
4. From 1 lakh to 3 thousand rupees to an additional 1 percent at the rate of 1 lakh 5 thousand and even to 1 lakh 19 thousand 5 hundred rupees.
5. In case of income of more than Rs 1 lakh, 1 percent of the Rs. 1 lakh to Rs. 1 lakh tax should be paid at the rate of 2 percent ie 2 percent. This means that since the income of Rs. 1,00,000 will have to pay tax of Rs.
PAN Mandatory: The government has been prohibiting any company and farm and body from paying salaries without a permanent account number (PAN) since July. The financial bill states that non-PAN employees will not be able to pay expenses while paying salaries. Any company and farm must pay all employees by bank account through the evening. It should include the PAN number.