Income tax on salary for fy 13-14 ay 14-15
This query is : Resolved
01 July 2013
What will be the Income Tax for the financial year 13-14 AY 14-15 on Salary Income of 90,34,380/
01 July 2013
INCOME TAX= RS 25,40,314/-
CESS = RS 76209
(CONSIDERING THAT THE INCOME MENTIONED ABOVE IS TAXABLE INCOME AFTER ALL DEDUCTIONS)
CESS = RS 76209
(CONSIDERING THAT THE INCOME MENTIONED ABOVE IS TAXABLE INCOME AFTER ALL DEDUCTIONS)
01 July 2013
Thank you very much Sanjay.
The figure given was net taxable salary after all deductions and considering Investments upto Rs.1.00 lacs.
The figure given was net taxable salary after all deductions and considering Investments upto Rs.1.00 lacs.
01 July 2013
OK. THEN CALCULATION IS CORRECT.
UPTO 2 LAC NIL
2 - 5 LAC 10%
5 - 10 LAC 20%
ABOVE 10 LAC 30%
SO IN YOUR CASE=
TAX =RS 130000/-
+30% OF (9034380-1000000)
CESS 3% OF TAX
UPTO 2 LAC NIL
2 - 5 LAC 10%
5 - 10 LAC 20%
ABOVE 10 LAC 30%
SO IN YOUR CASE=
TAX =RS 130000/-
+30% OF (9034380-1000000)
CESS 3% OF TAX
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