Good evening,
Could you please let me know whats the total tax due on an annual income of Rs 22,75,000 for assessment year 2013-14.
The assessee is 56 year old female resident in Ghaziabad, India with no other income.
Thank you,
N
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Tax calculation
Replies (1)
| Originally posted by : sh | ||
 |
Good evening, Could you please let me know whats the total tax due on an annual income of Rs 22,75,000 for assessment year 2013-14. The assessee is 56 year old female resident in Ghaziabad, India with no other income. Thank you, N |
 |
Rs. 22,75,000 has been assumed as Total Income.
Therefore Total Tax Payable = Rs. 5,27,880/-
Calculations:
|
upto 2,00,000 |
Nil |
|
Next 3,00,000 @ 10% |
Rs. 30,000 |
|
Next 5,00,000 @ 20% |
Rs. 1,00,000 |
|
Balance 12,75,000 @ 30% |
Rs. 3,82,500 |
|
|
Rs. 5,12,500 |
|
(+) Edu. Cess @ 2% |
Rs. 10,250 |
|
(+) SHEC @ 1% |
Rs. 5,125 |
|
|
Rs. 5,27,875 |
|
Total Tax (rounded off u/s 288A) |
= Rs. 5,27,880 |
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