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How Indian’s State Run Oil Companies Makes Huge Profit Despite Loss

Indian government is going to increase petrol price second time in this month, which is totally unacceptable for Poor Indian Public. Latest increase in price will be second time in this month and tenth time in Last 10 months.

Indian… Continue reading

Indian Income Tax Rates – Slabs for Financial Year (2011-12)

Indian Income Tax Rates – Slabs for Financial Year  (2011-12)

Applicable  – From 01 April 2011 to 31 March 2012

Slab (Rs.)                                Tax (Rs.)
less than 1,80,000                 Nil
1,80,001 to 5,00,000           10%
5,00,001 to 8,00,000          … Continue reading

Indian Union Financial Budget 2011 2012 Highlights

Present by Indian Finance Minister Pranab Mukherjee

Budget Date – Monday, 28th Februray, 2011

Applicable – 1st April 2011 to 31st March 2012

* Individual income tax exempt slab increased from INR 1.6 lacs to INR 1.8 lacs.
* 80… Continue reading

Why the Indian financial year starts from April?

1) The Income-Tax Act was enacted in 1961. The Act came into force from April 1, 1962 and that’s why our financial year begins on April 1 every year.

2) So that accounting year doesn’t coincide with the periods of… Continue reading

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