Computation of income tax

Tax queries 149 views 2 replies

DEAR EXPERT

MY SALARY INCOME IS 877670/- IN WITCH I CLAIM

HRA  = 57294

Conveyance Allowance = 19200

Telephone Reimbursement  = 2560 AFTER THAT MY TAXABLE INCOME IS 798616/-

NOW I CLAIM 

LIC = 106000

MEDICAL OLICY = 30184 AFTER THAT MY TAXABLE INCOME IS 662432/-

I CALCULATE INCOME TAX ON IT 

250000 = NIL 

412432 x 5% = 20622/-

BUT WHEN I FILL ITR 1 SAHAJ INCOME TAX SHOW HERE 44986 + CESS 1350 TOTAL 46336/-

PLEASE TELL ME WHERE I M WRONG. AND PLEASE SEND ME A COMPLATE TAX COMPUTATION. 

PLEASE 

PLEASE 

ITS URGENT !

Replies (2)
Income above Rs. 500000/- is taxable @ 20%
Tax upto 250000/- Nil
250000 to 500000 @ 5% 12500
500000 to 1000000 @ 20% 32486
Total 44986
Yes... I agreed to Mr CA Sunil Kumar...

Tax Slab is differed as above.


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