Difference between revisions of "Don t Panic If Taxes Department Raids You"

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Revision as of 18:38, 21 July 2025


Through the proposed DTC / GST legislations, the government has acknowledged the necessity of new revenue system but the proposed new laws apparently appear staying even more complicated then existing one.

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Because of the increasing tax rate of higher brackets, a reduction of taxable income having a higher bracket saves you more tax than exact reduction to a lower segment. So let's compare the tax saving of contributing $1000 by an individual with a $30,000 income with that of a single person with a $100,000.

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