How itr-6 is calculated

770 views 2 replies

Hi,

Im working in an IT Company as a Fresher Tax Consultant.

Im in a Learning Phase now.

My Company Filed IT Last year and im little confuse about Income Tax Calculations.

I just want to know how to Calculate Income Tax as per ITR-6.

Gross Total Income is: 36,22,296

If anyone can help me calculating the Income Tax as per ITR-6 then it would really help me.

1 Gross total income   36,22,296
2 Deductions under Chapter-VI-A    
3 Total Income    
4 Net tax payable    
5 Interest payable    
6 Total tax and interest payable    
7 Taxes Paid    
  a Advance Tax 7a  
  b TDS 7b  
  c TCS  
  d Self Assessment Tax  
  e Total Taxes Paid (7a+7b+7c +7d)  
8 Tax Payable (6-7e)    
9 Refund (7e-6)    

 

Thanks in Advance.

 

Replies (2)
  1. For domestic companies, rate of IT for AY 15-16 is 30% + EC @ 3% (no surcharge applicable in this case). This is applicable on Net income (GTI - deductions ch-VIA if any)
  2. Interest u/s 234A (if delay in filing return), 234B (90% of advance tax not paid) and 234C (quarterly instalment of advance tax not paid as per provisions) would be attracted if applicable
  3. If you want to know the tax liability, you can use IT calculator to compute the same: https://www.incometaxindia.gov.in/Pages/tools/income-tax-calculator.aspx

 

Ok got it but it was not helping my requirement.

Can SomeOne help me calculating the below Given Computation of Income & Tax, when the Gross Total Oncome is: 36,22,296.

1 Gross total income   36,22,296
2 Deductions under Chapter-VI-A    
3 Total Income    
4 Net tax payable    
5 Interest payable    
6 Total tax and interest payable    
7 Taxes Paid    
  a Advance Tax 7a  
  b TDS 7b  
  c TCS  
  d Self Assessment Tax  
  e Total Taxes Paid (7a+7b+7c +7d)  
8 Tax Payable (6-7e)    
9 Refund (7e-6)    

I Just want to get an idea on this, it will really help me understanding next year's tax filing.

Thanks in advance..

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details