Taxes and you: plan your taxes well and pay smart

fundamental ideas about taxation.

Level - BASIC

The simple principles based on which we pay our taxes, are easy to understand. View this video to learn a few fundamental ideas about taxation. Part 1 of 2.

AUTHOR(S): Uma Shashikant

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Taxes and You

 The simple principles based on which we pay our taxes, are easy to understand. View this video to learn a few fundamental ideas about taxation. Part 1 of 2.

1 2 3 4 5

    1.Wealth tax is applicable for anyone who has assets greater than



  • 15 lakhs
  • 50 lakhs
  • 30 lakhs
  • 2.Which of the following is liable for service tax?



  • A retail shop
  • A salaried individual
  • A Chartered Accountant
  • 3.How do you reduce your tax liability?



  • By using permissible deductions
  • By declaring only some part of income
  • By using household expenses to set off income
  • 4.What is the tax rate used to compute the income tax liability of an individual?



  • It is a slab rate decided and announced by the government in the budget
  • It is a flat rate decided and announced by the government in the budget
  • It is always 30%
  • 5.Which of the following income is exempt from Income tax?



  • Dividend Income
  • Business Income
  • Salary Income
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52 years ago

Nice informative video. Thanks.