Can someone help to calculate tax liability in the following case
Resident salaried person with age 26 earning 8 lakhs Gross salary only no deductions are to be claimed.
Net total income after considering Standard deduction will be 7,50,000 nd Opting revised tax slabs what will be the Tax liability & rebate allowed us 87A
Please elaborate with new Tax slabs.
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Query regarding 87A
Replies (5)
Quick Summary
Visit www incometax.gov.in
On the homepage, you will find quick links under which you can find Income Tax Calculator. It will help you with your queries.
On the homepage, you will find quick links under which you can find Income Tax Calculator. It will help you with your queries.
Querry 87A
Good reply @ Mukherjee
Querry 87A RELEIF
Hi Jit Hazra,
Good solution. My suggestion is, in the same window, ADvanced Calculator TAB next to the basic calculator is available, that gave me some more clarity on STCG being accounted in rebate 87A over the Baic limit of Tax exception .. LTCG is calculated separately for 10% tax irrespective of slab.
Thanks sir....
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