Income tax
This query is : Open
23 December 2016
Hi, If a person is earning Rs. 40500 per month, please help me with income tax.
Ashiwini Ballodia
(Expert)
23 December 2016
2,50,000 basic exemption limit
plus Rs.5000 tax exemption u/s 87A because the gross total income is less than Rs.5,00,000
KAVIRAJA ADDANGADI
(Expert)
23 December 2016
Since total gross salary will be Rs.486000/-basic salary exemption Rs.250000/- additional Rs.5000/- Tax exemption . Less than 5 lakhs. Balance 186000/- @10% Rs.18600+3%cess
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