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Tax amt and formula of tax

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(Querist)
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
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
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
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 October 2013 Correctly cal by aryan.
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@VaibhavJ

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@VaibhavJ (Expert)
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
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