Tax
This query is : Resolved
13 March 2012
Dear all,
One of our employees Taxable Salary Income is Rs 11,88,000 after all deductions.
Please tel me what will be the Tax Amount, Surcharges & Cess for the same.
One of our employees Taxable Salary Income is Rs 11,88,000 after all deductions.
Please tel me what will be the Tax Amount, Surcharges & Cess for the same.
13 March 2012
Total tax liability assuming the employee is a male and not a senior citizen comes to Rs. 2,14,652/-.
This is inclusive of EC & SHEC. Surcharge has been abolished on individual assessees.
This is inclusive of EC & SHEC. Surcharge has been abolished on individual assessees.
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13 March 2012
Can you plz show me the calculation.
Im getting Rs 183752
Im getting Rs 183752
13 March 2012
On the first 1.8 lakhs, no tax
On the next 3.2 lakhs(1.8 to 5)-Rs. 32,000
On the next 3 lakhs(5 to 8)-Rs. 60,000
On the balance 3.88 lakhs-Rs. 1,16,400
Total comes to Rs. 2,08,400
Add: EC & SHEC @ 3% Rs. 6,252
Total comes to Rs. 2,14,652
On the next 3.2 lakhs(1.8 to 5)-Rs. 32,000
On the next 3 lakhs(5 to 8)-Rs. 60,000
On the balance 3.88 lakhs-Rs. 1,16,400
Total comes to Rs. 2,08,400
Add: EC & SHEC @ 3% Rs. 6,252
Total comes to Rs. 2,14,652
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