It is that time of the year again, when we receive the mandatory email from accounts department reminding us of our income tax obligation for the year. Luckily for us, help is at hand, and there isnt any need to fret. This article gives a list of options that we can choose from to make our tax burden lighter. First, lets understand how the Government is going to tax us.
Taxable income slab (Rs.) Rate (%)
1,00,000
1,35,000 (for women)
1,85,000 (for senior citizens) NIL
1,00,001 - 1,50,000 10%
1,50,001 - 2,50,000 20%
2,50,001 upwards 30%
