How i calculate income tax
Querist : Anonymous
Please Solve Mu Confission about this
May Basic Salary is 179000/- Per Year
Conveyance allownce 24000/- Per Year
HRA 60000/- Per Year
My CA Sais That My all Income Is Tax free and Other CA Said That It Is Taxable Please Tell Me Through Calculation
Thanks
Yes you are not chargeable to Income Tax provided you are paying house rent
Basic salary - 179000
Conveyance - 14400 (24000-(800*12))
total - 193400
claim HRA as fully paid with rent receipt from your landlord.
Finally income is less than Rs.200000/ hence it is not taxable.
Querist : Anonymous
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