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my total income is rs. 6 lac however i hv deposited rs. 1.5 lac in ppf and 50000 in nps and 20000 in lic...in which slab my income will come to compute income tax??
Replies (6)
80c deduction 1.5lakh
10 % slab
Yes...
You are under 10% slab as per above values...
You are under 10% slab as per above values...
Taxable Under 10% slab after taking dedcution
Income. 6.00 lakh
less
deduction under chapter VI A
80C. (1.50 lakh)
80CCD(1B). (0.50 lakh)
taxable income. 4.00 lakh
tax. 1.50 X 5%.= 7,500
less
deduction under chapter VI A
80C. (1.50 lakh)
80CCD(1B). (0.50 lakh)
taxable income. 4.00 lakh
tax. 1.50 X 5%.= 7,500
tax slab for the year 2017-18
https://cleartax.in/s/income-tax-slabs
https://cleartax.in/s/income-tax-slabs
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