How to calculate income tax
Leena Jaiswal (MBA) (26 Points)
21 April 2014
let me know how to calculate income tax on income from salary. wht all r consider in exemption.
Leena Jaiswal (MBA) (26 Points)
21 April 2014
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 21 April 2014
BASIC
DA
HRA
Less Exemption u/s 10 (13) A
Conveyance Allownce
Less Exemp. u/s 10 (14)(i)
Uniform Allownce
Less Exemp. u/s 10 (14)(i)
GTI
Less: deduction under ch. VI A
80C to 80U
Taxable Income
Tax On taxable income
Less Rebate u/s 87 A
Net Taxliability
Ed. Cess 3% of net tax liability
Total Tax Liability
Leena Jaiswal
(MBA)
(26 Points)
Replied 21 April 2014
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 21 April 2014
u/s 80 C 100000
U/S 80 D 15000
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
