Since the article is to help ppl who are new to tax, Please explain abt taxable income first. It would mislead ppl who dont know that. Hence pls give those details on standard deductions and those details. Also it would be of gr8 help, if u can provide details in such a way that we can workout the tax calculation of our own.
I owuld like to point out to you that the current IndiaN tax system is based on the western model run by the British raj. Britain lost her rule over america over taxes. This indicates the unfiar nature of the British tax regime. In fact, Robert Kiyosaki in his bestseller book "Rich dad, Poor dad" has detailed the evolution of the british tax system and its deficiencies/drawbacks like an ever expanding bureaucracy, spendthrift governments, weakening of currencies by governemnts, inflation, etc.
Please tell about the various concessions in perks like HRA,conveyence etc. Also tell more about how to invest intelligently to save tax. Please specify about the limits under various sections.
It seems in tax computation, the recent announcement by finance minister was not considered (i.e.) taxable amount has been exempted from Rs.50,000 to 1,10,000.
