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Income tax deduction

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(Querist)
07 May 2014 my total income is 3,10,000 rs. and pf is 96,000 rs. then how much tax should be deducted
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 May 2014 nil tax. taxable income: Rs 1.14 lakhs. tax thereon Rs 1400, rebate under 87A 1400. tax payable Nil.
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
08 May 2014 No tax because your income is below slab rate



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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 May 2014 Dear Bharat,

please note that the incoem is above slab rate. the tax liability is nil because of rebate under 87A.

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