Pl tell me the tax liability

Tax queries 417 views 1 replies

Form-16 shows that Income under the head of Salaries  of the employee (other than from perquisites) : Rs. 490356 for financial year 2013-14  and the amount includes previous employer's income of Rs. 338,776 for the period from 01-Apr-2013 to 17-Dec-2013 on the basis of salary certificate/ declaration submitted by the employee.

TDS by previous employer is Rs.11200 and tax deducted by new employer is Rs. 8051.

total deduction under sec.80C is Rs. 100,000.

what will be the tax liability??

Thanks

Replies (1)
In your case Your taxable income will be as follows:  
Total Salary received from both employers   490356
Less : Deduction for PPF paid   100000
  Net Taxable Income   390356
  Tax thereon 19035.6  
  Less : Deduction u/s. 80 TTA 2000  
    17035.6  
  Secondary & Higher Sec. cess @ 3% 511  
  Total Tax payable 17546.6  
       

Thanks 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details