Mutual funds announce the investment
The government of India imposes an Income tax on taxable Income of all persons including
individuals, Hindu Undivided Families (HUFs), companies, firms, association of persons, body
of individuals, local authority and any other artificial judicial person.
Many jurisdictions tax the Income of individuals and business entities, including
corporations. Generally the tax is imposed on net profits from business, net gains, and
other Income.
The government of India imposes an
Income tax on taxable Income of all persons including individuals, Hindu Undivided Families
(HUFs), companies, firms, association of persons, body of individuals, local authority and
any other artificial judicial person.
Many jurisdictions tax the Income of individuals and business entities, including
corporations. Generally the tax is imposed on net profits from business, net gains, and
other Income.
The Indian Annual Tax Calculator is updated for the 2016 / 2017 assessment year. You can calculate your Annual take home pay based of your Annual gross income, Education Tax, NIS and income tax for 2016 / 2017. Use the simple annual tax calculator or switch to the advanced annual tax calculator to review NIS payments and income tax deductions for 2016.
Equity Linked Saving Schemes (ELSS) provide a good avenue for capital appreciation and tax benefit under section 80C of the Income-Tax Act, 1981.
An Indian Citizen who stays abroad for
employment/ carrying on business or vacation outside India or stays abroad under
circumstances indicating an intention for an uncertain duration of stay abroad is a
non-resident.
Liability to pay tax in India does not depend on the nationality or domicile of the Tax
payer but on his residential status. Residential Status is determined on the basis of
physical presence i.e. the number of days of stay in India in any year.
