How to calculate taxable income

Tax queries 1593 views 4 replies

Pankaj

Working

36 Points Joined June 2009

Hello People,

I want to know what would be my net taxable income?

My Gross salary P.a is Rs. 2,85,000 which includes following break up

	monthly
basic	12000
hra	2800
transport allw.	900
LTA	2000
uniform allw.	2625
fuel allw.	2025
medical	1400
gross salary	23750
PF	1440
LWF	10
lunch charges	500
cash in hand	21800

Could anyone please tell me what would be by net taxable income for the current financial year 2013-2014..?

Any help on this would be highly appreciated..

Thanks and Best Wishes.

Replies (4)

@VaibhavJ

Believe!! Live your dreams!

33521 Points Joined November 2008

Refer this link: https://finotax.com/itax/tdscalc.htm

Thanks//VaibhavJ

Pankaj

Working

36 Points Joined June 2009

@ vaibhav ji

I am confused regarding Total Estimated Income for Financial Year 2012-13

at https://finotax.com/itax/tdscalc.htm

please cleared

Dear pankaj. Assuming you are not paying rent and hra is fully taxable Your taxable salary will be Gross salary as given by minus PF(80C ded). i.e.rs.22310 pm. Rs.267720p.a. And tax will be Rs.4920/- inclusive of cess.