About income tax liability
This query is : Resolved
jaspal singh
(Querist)
18 February 2015
plz suggest me my tax liability
total salary income :675000
interest on saving bank ac: 22000
fd interest:13450
-------------------------------------------saving and tds :
ppf/gpf:150000
tds deduction: 31000 from salary
bank fd tds deduction:1345
plz suggest me how we add saving ac interest+fd interest and tds deduction on fd.
thanks .
jp singh
CA. Anoop Bhatia
(Expert)
18 February 2015
Please refer the following sheet for your reference:
A Income: Rs.
Salary 675000
Saving Interest 22000
FD Interest 13450
B Gross Total Income 710450
C Less: Deductions (chapter VI-A)
Section 80C 150000
Section 80TTA 10000
Total 160000
D Total Income 550450
E Tax on Total Income* 35090
Add: EC & SHEC 1053
F Total 36143
Less: TDS on Salary 31000
Less: TDS on FD Int. 1345
G Net Tax Payable 3798
A Income: Rs.
Salary 675000
Saving Interest 22000
FD Interest 13450
B Gross Total Income 710450
C Less: Deductions (chapter VI-A)
Section 80C 150000
Section 80TTA 10000
Total 160000
D Total Income 550450
E Tax on Total Income* 35090
Add: EC & SHEC 1053
F Total 36143
Less: TDS on Salary 31000
Less: TDS on FD Int. 1345
G Net Tax Payable 3798
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