19 July 2016
How to Calculate Income Tax
when
Income Tax - 342716
Add - Edu cess 3% - 10281
Add - Interest - 20535
Total ----------
373532
Less :- Tds 86199
Less :- Tax paid 257120
Basic - 231787 -------
Edu Cess - 6954 30213
Interest -18379 -------
------
257120
Now how to Calculate Rs. 30210
for
in which Rs. 30210 What is Basic Tax , Edu Cess & Internet
19 July 2016
as far as possible, leave this calculation to the income tax department...it is their job to account for the same as per the codes....not our... Since you have done a lot of leg work......put the figures in columnar form, and you will get the answer. Consider TDS in basic tax. So 24730+3327+2156=30213 is the break up as basic, edu cess, interest respectively
CAclubindia
