Dear All
I need one help urgently
for fy 2013-2014
income slab 200001-500000 it is 10% tax
but rebate of rs2000 is given
i want to know whether the rebate is after tax +cess
or tax less reabte on that cess 3% to be applied
fOR EXAMPLE TAX is 10000 and cess 3% is 300 should rebate of Rs2000 is to be applied after 10300 ie10300-2000=8300
OR
is it 10000-2000=8000 and cess to be applied on 8000 ie rs240 so tax liablity is 8240
Which one is correct
Kindly reply thanks in advance
S.Sivaram
CAclubindia
