2 ms·
> $250-300/mo but 5% income tax and not eligible for subsidies 300 USD per month means ₹3,00,000 per year; remember then to take into account the Section 87A r
by chrismorgan 3y ago
> $250-300/mo but 5% income tax and not eligible for subsidies
300 USD per month means ₹3,00,000 per year; remember then to take into account the Section 87A rebate, which amounts to you paying no tax if your total income is less than ₹7,00,000 (5 lakh in previous years).
- ta_vf7xjd34cc 3y agoUnder the new tax regime, individual income up to ₹750,000 is tax free due to a combination of standard deduction and 87A. Given that many small businesses often accept UPI payments in multiple names (husband, wife, mother etc), a small family can actually manage ₹1,500,000-3,000,000 in (legitimate) tax free income. That is about $18-36,000. Which is a lot in India.
- deleted 3y ago[deleted]