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22 March 2017 my father income is 700000.his Age 69,i have invest 150000 in 80c. benefit of 10tta is 10000.no other benefit. so calculate my father Tex in year 2016-17
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CA Shubhanshu Jain

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CA Shubhanshu Jain (Expert)
22 March 2017 Net Taxable income is Rs. 540000 (700000-150000-10000)
Tax on Rs. 540000 - Rs. 28840
On first 3 Lakhs - Exempt
on Next 2 Lakhs - 20000 (10%)
on balance 40000 - 8000 (20%)
3% education cess on 28000 (20000+8000)
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