Tax calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2012
My total income in a. y is 2012-13 is 300000 so wat will be the tax i have to pay and if i want to save complete tax how much amount i have to invest please help me....
27 October 2012
Being an "Anonymous Person" it is difficult to decide whether you are a male or female?
.
The taxation slabs for an individual assessee in A.Y. 2012-13 (Previous Year ended on March 31, 2012) are not gender-neutral.
.
The Basic limit is Rs. 180000 for male and Rs. 190000 for female. So tax liability comes to Rs. 12000/ for male and Rs.11000/- for female. In this you have to add 3% of tax amount in the name of education cess and interest U/s 234A, 234B
and 234C.
.
The time for investment has gone as you have to make the same prior to the end of the previous year, i.e on or before 31.03.2012.
.
For the current year however, you can save tax for the AY 2013-14 by investing in LIC premium, NSC, PPF (Upto Rs. 1.00 lac), and Medi-claim Premium upto Rs. 15000/- .
.
.
The taxation slabs for an individual assessee in A.Y. 2012-13 (Previous Year ended on March 31, 2012) are not gender-neutral.
.
The Basic limit is Rs. 180000 for male and Rs. 190000 for female. So tax liability comes to Rs. 12000/ for male and Rs.11000/- for female. In this you have to add 3% of tax amount in the name of education cess and interest U/s 234A, 234B
and 234C.
.
The time for investment has gone as you have to make the same prior to the end of the previous year, i.e on or before 31.03.2012.
.
For the current year however, you can save tax for the AY 2013-14 by investing in LIC premium, NSC, PPF (Upto Rs. 1.00 lac), and Medi-claim Premium upto Rs. 15000/- .
.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Putting a heading on received mail
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
