Sunday, March 13, 2011

New provisions for tax calculation in India, such as the lowering of "senior citizens" age and the introduction of "very senior citizens" group, will be misused by younger individuals to accrue more "white" income.


  1. Don't get it,how can younger individuals misuse these provisions?

  2. In a business, an individual will "show" higher income to his parents and grandparents (rather than to himself), and since the parents/grandparents fall under the higher exempt bracket, this extra "white" income will be free from tax.