Katrina and Akshay the highest advance tax payers! - Page 3

Originally posted by: czarcastic.

Taxation in India is on progressive basis(exempt upto 2 l, 10 pc form 2 to 5 L, 20 pc fron 5 to 10L and 30 pc on 10 L and above)

Katrina is a resident as per tax laws..it has nothing to do with being a citizen but the number of days she stays in India in the Previous Year!

also advance tax is different from the tax liability..by the 15th of the following of every quarter the person has to pay 30 pc, 60 pc and 100pc of total tax liability(as computed above) on 15 sep, 15 dec and 15 march!

so this amount paid doesn't reflect the total tax liability but only the balance which they hadn't paid till 15 dec!

don't know if I made sense:P

Originally posted by: chocolover89

So how does this work? I'm a little confused because if SRK earned 200 crores last year & only paid 10 crore tax, that means he paid 5% tax?? :O

Are u sure? ^^ cuz why didnt articles come out then, about how SRK or Salman are paying the most tax 😕

Originally posted by: don12

Okay...that income tax is too low especially for Katrina Kaif...I can't imagine Katrina Kaif earned only15 cr last year??? So many brand endorsement..bachelors party...shaadis...item songs...and that netted only 15 cr???

Also shouldn't non-Indian citizen be taxed more??? Or they also pay that 30% tax??? any CA on this forum??

Originally posted by: MrsMalhotra

It means that SRK has a better accountant than the rest. 😉

😆

A good CA can cook your audit books for good...hence there so many CAs in India...😊

Originally posted by: blue-ice

I don't think its as simple as calculating the 30% of the total gross earnings...If u see SRK paid 10.5 crores,...and he earned more than 200 crores last year...so if you go by that whatever Kat paid looks OK to me...

And foreigners should pay more...kyon Bhai...when I was an NRI ...living in USA...I used to pay the same taxes as the American citizens...must be the same in India..

Well it true in US NRIs don't get charged additional taxes..but i think its unfair to compare ..India and US...simply because only 5-7% population pay taxes in India...and on top of that they are in cash crunch...

But US does put some hidden charges..like work permit cost crazy nowadays (under the name of US-Mexico border construction)...well i don't want to get into into SSN benefits NRIs workers pay and may never get them back especially an H1B or L1 person without GC...where does that money goes???

Indian government charged 10% additional taxes on people making more than 1 cr...They are hell bent on squeezing Indian service class... why not charge additional tax on non-Indian citizen...it maybe 1% or 2% more...

I am in favor of abolition of Income tax all together...to be frank...I would have voted for Ron Paul if he was the nominee instead of Romney...he would have helped abolish Income tax...

Hmmm... katrina is not an indian citizen so I am sure she has to follow other criteria in paying income tax..

Taxes depend a lot on where the income is being earned. Akshay's income must be very straight from his movie work. Others may be making large amounts through investments and capital gains, which would have different tax rates. It would change again if their income is being routed through a business corporation. That's why we see film stars paying more individual taxes than people like Mukesh Ambani. It's not that they earn more, it's that they earn in a different way.

With all that music album stuff...PeeCee paid only 2 crores??
Tax chori??

Originally posted by: blue-ice

Tax is paid on EARNINGs and producing sweat doesn't count as earning...it doesn't sell...

LMAO 🤣🤣

You meant fume🤣