Income tax
riddhishah (charteredaccountant) (43 Points)
05 September 2015
how to calculate tax on rs. 9,60,000?? resident.. 25 male..
detailed explanation please
riddhishah (charteredaccountant) (43 Points)
05 September 2015
Kiran. S
(CTO)
(745 Points)
Replied 05 September 2015
1) What are the tax credits [TDS + tCS +TI]
2) what are the investments made
3) Any Housing loan Interest or other income from rent etc.
4) Any donations to charitable trust.
5) savings bank int
Any way if taxable income after all deductions is 960000 then
for first slab upto 5 lakhs 10% of amt exceedig 2.5 lk --> 25000 (10% of 5lk -2.5lk)
For secon slab upt 10 lk 20% of amt exceeding 5 lk--> 0.2 x ( 960000- 500000)
3% cess on ( 92000 +25000) total tax to be paid --> 120510
riddhishah
(charteredaccountant)
(43 Points)
Replied 05 September 2015
riddhishah
(charteredaccountant)
(43 Points)
Replied 06 September 2015
Miss Rinkal
(Student)
(1304 Points)
Replied 06 September 2015
I presume you have been talking abt ay 2015-16
riddhishah
(charteredaccountant)
(43 Points)
Replied 06 September 2015
CAclubindia
