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Income Tax
by Narayanan Ravi on Feb 15, 2010 09:44 AM

The income Tax should be made simple and all the earning members are to be taxed and there should not be any deductions on any account.

The Income Tax at 1% to be charged for the gross incomes (no deduction on any account) between Rs.1/- to Rs.3 lacs.

And at 3% from Rs.3 lacs to 5 Lacs
at 5% from Rs.5. lacs to 7 lacs
at 7.50% fron Rs.7 lacs to Rs.10 lacs
and finaly at 10% for any gross income above Rs.10 lacs.

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