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-   -   Tax for Year 2007-2008 (https://www.askmehelpdesk.com/showthread.php?t=173862)

  • Jan 18, 2008, 11:01 AM
    smileforever
    Tax for Year 2007-2008
    I am a permanent resident of India and work for a Foreign Company which is in UK, I receive salary in India every month with the other expenses, from the UK Company, If my total salary in year is 2,30,000 per annum, Shall I liable to tax ? If yes how much? What is the provision?
  • Jan 18, 2008, 01:06 PM
    AtlantaTaxExpert
    I assume this is about Indian taxes.

    If so, maybe MukatA or VTE can answer, but my expertise rests with U.S. tax law, not Indian.
  • Jan 18, 2008, 10:47 PM
    MukatA
    You are Indian resident. You are employed in India and get salary in India. Yes you will pay tax in India.

    I don't see that with your annual salary, you will end up paying any taxes. Normally the tax free allowance is only Rs. 1,10,000, but you have Conveyance allowance, medical allowance, house rent allowance and Rs. 1,00,000 deduction under 80CC for investing in savings.

    Your employment letter will have breakdown. Also in India, the employer is supposed to deduct TDS, which is exactly or almost same as your tax. So talk to your employer's HR department. They may like you to submit some information so that you pay mimimum tax.

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