Calculate income tax

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vinaykumar deshpande (Querist)

01 December 2012 for the assessment year 12-13
Individual - age 37 years male

Net Income chargeable for IT Rs.210113.00

kindly guide me to calculate income -tax on the above

Please note, I have completed calculation till following step

Taxable liability (210113 - 180000)=30113
tax payable = 3011
cess = 91
total 3102
what are the rest of the levies
applicable like interest etc for
the delay till today ie 1/12/2012

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)

01 December 2012 Interest u/s 234A of Rs. 124 shall be levied.

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

02 December 2012 Sir, Vinaykumar deshpande; While you talked with me on 1st December 2012 you said the the return filing A.Y. is 2011-12. In such case delay in filing of return is 17 months according to the IT act so you have to pay 17% interest u/s 234A on Rs.3102 i.e Rs.527.

In case such return is related to A.Y.2012-13 then delay in filing of return is 4 months according to the IT act. So you have to pay 4% interest u/s 234A on Rs.3102 i.e Rs.124.

Sir, i think you have clarified at the time you talked with me. But now just i replied for your clear clarification. Thank you.

OM SAI SRI SAI JAI JAI SAI

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