TAX
A Tax is a financial charge imposed upon a taxpayer by a state or the functional equivalent of a state to fund various public expenditures.
Types Of Taxes Under Tax Structure in India
• Direct Taxes• Personal Income Tax• Service Tax• Excise Duty• Custom Duty• Sales Tax……
Tax SlabsIncome Slab Tax Rate
Up to 2,50,000 NIL
Rs. 2,50,001 to Rs. 5,00,000 10%
Rs. 5,00,001 to Rs. 10,00,000 20%
Above 10,00,000 (RICH) 30%
Here is the Tax slab, according to which tax rate is charged as per Income slabs.
The people of last slab are considered as super rich.
Total Income
Charity
The ratio shown in the Pie Chart is the ratio in which rich people do Charity.
i.e. 1:10
What They Do?
Why They Do Charity???
IncomeCharityTax
By doing this (i.e. donating a small portion of their income as charity), they get benefit of tax exemption.
What Govt. Should Do???• So Govt. should charge tax on their total income i.e. before they do Charity.