Tax amt and formula of tax
This query is : Resolved
18 October 2013
if my annual income 6 lac after deduction of 80c and 2lac .than how to calculate tax .and what criteria of cal of tax...and what amt paid to tax department
18 October 2013
Up to - 2lacs NIL
200001 - 500000 - 10percent
500001 - 1000000 - 20percent
1000001 and above 30 percent..
In your Case after exemption of 2lacs
Tax up to Rs. 2,00,000 Nil
Tax on Rs.2,00,000 to Rs.5,00,000 @ 10% =30,000
Tax on Rs. 5,00,000 to Rs. 10,00,000 @ 20%
=60000
Total 90,000
Add:Educational Cess - 3% of Total Tax
2,700
Net Tax Payable 92,700
200001 - 500000 - 10percent
500001 - 1000000 - 20percent
1000001 and above 30 percent..
In your Case after exemption of 2lacs
Tax up to Rs. 2,00,000 Nil
Tax on Rs.2,00,000 to Rs.5,00,000 @ 10% =30,000
Tax on Rs. 5,00,000 to Rs. 10,00,000 @ 20%
=60000
Total 90,000
Add:Educational Cess - 3% of Total Tax
2,700
Net Tax Payable 92,700
18 October 2013
Correctly cal by aryan.
Message likes :
1 times
18 October 2013
Hi
Rfere: https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp
To understand how Tax to be calculated on Salaries.
Thanks//VaibhavJ
Rfere: https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp
To understand how Tax to be calculated on Salaries.
Thanks//VaibhavJ
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