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Tax

This query is : Resolved 
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(Querist)
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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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.
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Ananth

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Ananth (Querist)
13 March 2012 Can you plz show me the calculation.
Im getting Rs 183752
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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
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