Can I get a university teaching job with only a bachelors degree? I have a B.Tech (Bachelors of Technology) from IIT Madras (class of 2000) and looking to change tracks from my current job in the software industry. In university, I specialized in computer science and engineering.

I want to know if I can get paid as a faculty for teaching at university level either in private or public universities. I’m also interested to learn what possible salary ranges I should expect.
(U.S. answer follows)

It is virtually impossible to get a teaching job at the college or university level without an advanced degree at the Master's or PhD (or terminal professional degree) level.  Most faculty have a terminal degree.  The opportunities for teaching with a Master's are limited, especially because competition is high and even collegiate level positions that are open to Master's holders still attract PhDs.  Master's degree holders are normally limited to non-tenure track teaching positions and adjunct teaching positions.

If you really do want to be a teacher without an advanced degree, there are opportunities at secondary schools, although most public schools will expect you to start working toward your Master's degree in either Education or your specific field within a few years after you begin.  Private secondary schools are less strict in this regard, but these days you'll find that most teachers will work towards their Master's even in private schools.  With a computer science / engineering degree, you should be competitive for teaching positions in mathematics, physics, computer science/technology, and possibly other sciences.  When I started teaching high school physics, my undergraduate degree was in electrical engineering (but I also finished a Master's in education).

There are obviously exceptions to the above -- Bill Gates could get a job teaching at virtually any school in the country, and he doesn't even have a bachelor's degree.  But, unless you are in a unique category like that, you should be prepared to get an advanced degree of some sort if you want to teach at the college or university level.