tax

“A Penny saved is a penny earned.”

As kids or as teenagers we do not realize the importance of money. But as we grow older and the responsibilities of life are thrust upon us, we do learn to rise to the occasion. More and more married women seek ways and tips on saving money and investing. Saving money is not really very difficult. It just requires meticulous habits and carefulness. Once you imbibe all these tips, you will find your own purse heavier and your mind lighter.

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%