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Tax calculation

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20 August 2014 dear sir please suggest.
male(age 40 years)

if total income after 80c deductions =272398
what will be the tax payable amount after rebate u/s 87a

20 August 2014 Dear Vivek,

Tax payable Rs.5400 (assuming it is for AY 2014-15)

As under,

Total income 272398
Rounded off u/s. 288A 272400

Tax on Rs.2,00,000 = 0
Tax on Rs.72,400 = 7240
Total tax = 7240
Less: Rebate u/s. 87A = 2000
Tax = 5240
Add: edu. cess 3% = 157
Total tax payable = 5397
Rounded off u/s. 288B = 5400

22 August 2014 Mr Devanand given right and detailed ans.






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