Tax liability

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Aditya (Querist)

28 July 2014 total salary 293927 exmptd alwnc 2400 PF u / S 80c ( shown in 16 ) 9804 tx ddcted 6173+185 bt when m filing d return online it showing tx liability 1010 is the PF exmptd u/S 80c ..

Nikhil Kaushik

Nikhil Kaushik (Expert)

29 July 2014 yes PF is deductible under 80C. you should not have any tax liability other than tax already deducted.

ALOK GOEL

ALOK GOEL (Expert)

29 July 2014 You Question is not clear . Still if I understood like this then UR ans can be as follows:

1. Salary : 293927
2. 80C ded.: 9804
3. Exempt Allowa. : 2400
4. TDS :6173 + 185 = 6358

If UR question ( Why are you not writing clearly to get the help)is correct then ur Tax liability will be as as below:

293927-9804-2400 = 281723

281723-200000 = 81723 ( Taxable)
--> Tax will be 8170
8170- 6358 = 1812 ( Will be actual tax payable by U)

Or

You can calculate using ITR-1 or 2 utility file the exact amount of Tax to be paid after filling relevant income and 80c , TDS etc. and u will get correct figures.

Nikhil Kaushik

Nikhil Kaushik (Expert)

29 July 2014 Dear Alok,

What about 87A deduction. You forgot to provide teh same.

ALOK GOEL

ALOK GOEL (Expert)

29 July 2014 yes Nikhil under 87A , 2000/- deductions to be considered .

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