How can I reduce my taxable income?
- Use up your Rs 1.5 lakh limit under Section 80C.
- 2) Contribute to the National Pension System.
- 3) Pay Health Insurance Premiums.
- 4) Get a deduction on your rent.
- 5) Get a deduction on the interest on your home loan.
- 6) Keep some money in your savings account.
- 7) Contribute to charity.
What is the tax on 15 lakhs?
Frequently Asked Questions ( FAQ’s )
| Income Slab | Applicable Tax Rate |
|---|---|
| Above Rs 7.5 lakh and up to Rs 10 lakh | 15% |
| Above Rs 10 lakh and up to Rs 12.5 lakh | 20% |
| Above Rs 12.5 lakh and up to Rs 15 lakh | 25% |
| Above Rs 15 lakh | 30% |
What is the tax on 1 crore in India?
New income tax slabs and rates Surcharges on tax remain untouched. Taxpayers with income between Rs 50 lakh and Rs 1 crore continue to pay 10% surcharge, between Rs 1 crore and Rs 2 crore pay 15%, between Rs 2 crore and Rs 5 crore pay 25% and those with income over Rs 5 crore pay 37%.
What is the maximum tax on salary income?
The most popular tax-saving options available to individuals and HUFs in India are under Section 80C of the Income Tax Act, Section 80C includes various investments and expenses you can claim deductions on – up to the limit of Rs. 1.5 lakh in a financial year.
Is 15 lakh per annum a good salary?
2. Is 15 lakhs a good salary in India? Further, if you are fairly young and have no ailments, 15 lakhs per annum is considered a good salary by Indian standards.
Can we deposit 1 crore bank?
Earn interest on ₹ 1 crore fixed deposit up to 6.95%. One Crore FD Interest depends on the FD tenure and rate of interest….₹ 1 Crore FD: Details.
| Banks | FD Interest on ₹ 1 Crore | Senior Citizen Rates on ₹ 1 Crore FD |
|---|---|---|
| Bajaj Finance | 5.65% – 6.50% | 5.90% – 6.75% |
| SBI | 2.90% – 5.40% | 3.40% – 6.20% |
Can I deposit 2 crore bank?
Deposit of 2 crore & above is designed especially for HNIs, Corporates, SSO, and Government Institutions, to park their surplus funds and enjoy attractive returns on their high-value deposits. This special category has a minimum deposit value of INR 2 crore.
At what income do I pay tax?
Single, under the age of 65 and not older or blind, you must file your taxes if: Unearned income was more than $1,050. Earned income was more than $12,000. Gross income was more than the larger of $1,050 or on earned income up to $11,650 plus $350.