2006-10-03 01:14:48 · 12 answers · asked by vishwas d 1 in Business & Finance ➔ Taxes ➔ India
if you are earning 2 M annually, what do you care about taxes. Most people reading this won't have any idea and you will have enough money to hire good accountants and tax lawyers
Don't forget to give some money to your favorite charity
2006-10-03 01:22:34 · answer #1 · answered by lm050254 5 · 0⤊ 0⤋
That depends on the tax regulations in your country. Contact your tax office for information about the tax bands. 2 million sounds quite a decent salary (if it's rupees). You should probably be employing an accountant to advise you of the best way of (legally) keeping your money from the taxman's hands. I think you should be able to afford to do so.
2006-10-03 01:18:50 · answer #2 · answered by Owlwings 7 · 1⤊ 0⤋
I am sure you are not earning that sum. If you are earning that sum from salary, your employer must have taken care of you.
If you earn from business,then you will never be courageous enough to disclose it. Are you earning the sum for the first time, then what was the income in last year ? Person realy earning this sum must have gone to tax consultant other than asking in yahoo answers.
2006-10-03 05:15:17 · answer #3 · answered by skroy50 1 · 0⤊ 0⤋
You have not specified as to whether you are working as an employee OR you are are doing your own business or profession.If U R employee you will have to pay tax according to prescribed slab after getting exemption of Rs.1 Lakh and further deduction of Rs.1 lakh on investment in PPF/tution fees/insurance etc.Thus Rs.18 Lakh will be subject to income tax.Refer to www.allindiantaxes.com for tax slabs.
If you are doing own business or profession all the expenses incurred fo business or profession are allowed deduction from your receipts.
2006-10-03 04:57:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Dude, if you are making that much money in INDIA, you must be the owner of the country. Because most people make about $1,000 a year in India, that is a good sum of money. Plus, I don't think they pay taxes in India.
2006-10-03 01:22:24 · answer #5 · answered by ihatehippies 3 · 0⤊ 0⤋
If you really are earning that much money, who cares, pay the taxes and shut up about it, are you complaining or bragging?
2006-10-03 01:17:07 · answer #6 · answered by Mary Smith 6 · 0⤊ 1⤋
If you were earning that much you wouldn't be asking, all your lackeys would be doing it for you.
2006-10-03 01:24:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋
20 000.00 that is not really a lot maybe get a tax exempt.
2006-10-03 01:20:12 · answer #8 · answered by Anonymous · 0⤊ 1⤋
That's what accountants are for and it sounds like you can afford one.
2006-10-03 01:23:43 · answer #9 · answered by Krazykraut 3 · 0⤊ 0⤋
2000000 what...dollars??
2006-10-03 01:23:44 · answer #10 · answered by ~jessi~ aka....mommy 5 · 0⤊ 0⤋