These 7 Bollywood Tycoons Paid The Highest Advance-Tax In 2017
In India, one of the industries where we see money flowing in abundantly is Bollywood! As blockbuster movies come in and the box office goes crazy, film stars earn in crores! And with every passing year, their income is only piling up their bank balances. One of the indicators that tell us about how much they earn is the amount of advance tax they pay each year. Advance tax refers to paying a part of your taxes before the end of the financial year. Also called 'pay-as-you-earn' scheme, advance tax is the income tax payable if your tax liability is more than Rs. 10,000 in a financial year. And it should be paid during the year in which the income is received. Well, to make you make you think about your own wallet, here’s a list that might give you a picture of how rich your favourite stars are.
Well, though the B-town folks shed a huge chunk of their money on taxes, they ensure that they save enough tax through wise investments too. And that's something that we commoners can learn from them. Investing in tax-saving instruments like Unit Linked Insurance Plans (ULIPs) is a really smart move. It offers better flexibility and monetary benefits. It allows you to invest in a range of funds – equity debt and balanced, and still gives the 80C Tax benefit. It even allows you to change between monthly and yearly investments, and the maturity amount can be withdrawn tax-free. Moreover, it has a built-in life cover as well.
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