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How to calculate income tax
let me know how to calculate income tax on income from salary. wht all r consider in exemption.
Replies (3)
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
If my income is 570000 how much investment I need to show.
u/s 80 C 100000
U/S 80 D 15000
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