Advice

How much tax do I pay on 10 crore?

How much tax do I pay on 10 crore?

Assessment Year 2022-23
Range of Income
Rs. 50 Lakhs to Rs. 1 Crore Rs. 1 Crore to Rs. 2 Crores Exceeding Rs. 10 Crores
10\% 15\% 37\%

What is the tax on 1 crore in India?

Taxpayers with income between Rs 50 lakh and Rs 1 crore continue to pay 10\% surcharge, between Rs 1 crore and Rs 2 crore pay 15\%, between Rs 2 crore and Rs 5 crore pay 25\% and those with income over Rs 5 crore pay 37\%.

What is the tax on 5 crore?

Surcharges Applicable for Resident Individuals

Annual Income (Taxable) Applicable Surcharge Rates
Between Rs. 50 Lakh and Rs. 1 Crore 10\%
From Rs. 1 Crore to 2 Crore 15\%
From Rs. 2 Crore to 5 Crore 25\%
Rs. 5 Crore and above 37\%
READ ALSO:   How many beers are in a Pony keg?

What is the tax on 7 crore in KBC?

Income Tax @ 31.20\% on Winnings from such TV Shows and Online Winnings. Income earned from winning KBC Game Show, Big Boss, Nach Baliye, India’s Got Talent, Fear Factor and other game shows is taxable at a flat rate of 30\%.

Do I have to pay tax on 10 crore of income?

This is a tricky question. Now, if Rs 10 crore is the income you receive during a year, you would have to pay taxes at the rate of 30\%. That being said, if Rs 10 crore is your savings in the bank, the interest income you receive out of it will be taxable; based on what income tax slab you fall under.

How can I deposit 10 crore rupees in my bank account?

You can deposit even 10 crore rupees in your account…but you need to explain to the Income Tax Department how you got the money…and if tax is due on that, you need to pay the relevant tax… Any cash transaction above 50,000 needs PAN Number and that PAN needs to be linked to Aadhaar. Check with your bank for more information.

READ ALSO:   Which is the famous sweet dish of Odisha?

What is the tax on deposit of money in India?

Tax is paid on income .If you have paid income tax on the amount ,there is no separate tax for depositing money .You may be required declare source of funds and PAN CARD Number .There is no Deposit Tax in India . If I directly answer your question about the taxable amount considering few things:

What is the tax on 10 lakhs deposited in savings account?

Depositing money in savings account does not attract tax. It is the interest on savings account, which if it exceeds Rs 10000/, is taxable and added to your income. However, you may be liable to explain the source of these Rs 10 lacs deposited.