How to pay zero tax on family income of Rs 13.10 lakh

I read this interesting article from rediff website.

Believe it or not, it's true.

One would be forgiven for being sceptical because for the ongoing year (FY 2008-09), the total income exempt from income tax in the hands of a male individual is only Rs 150,000 and that for a woman taxpayer only Rs 180,000 (for senior resident Indian citizens above the age of 65 years, the tax exemption is higher at Rs 225,000 but for our purpose, we shall consider a family where all the members are below the 65 years of age.). So how, then, can an income of Rs 13.10 lakh be completely exempt from tax?

You can achieve this by following one of the five golden rules of tax planning, namely, by spreading your income among your family members. Read more..