TAX FOR SALARIED PEOPLE

Others 1014 views 10 replies

i HAVE tWO Foom No-16, one is from 1.4.08 to 31.10.09 and second for 01.11.08 to 31.03.09 for first period my taxble income was 3.89 lac and for second period my taxable income was 1.63 . for first period my employer deduct rs. 36k as tds and for second period my employer deduct 1300.00k is it right or my total tax is highher than this ? 

Replies (10)

pls help

The details of deduction claimed u/s 80 is needed to calculate the actual tax.

if the income you have mentioned is after all deduction than yout total tax liability will come to Rs. 72,718.00 (including education cess of Rs. 1412.00 and higher education cess of rs. 706.00). Total TDS is Rs. 37300.00 in your case hence, there is shortfall of Rs. 34,418.00

Dear Sir

total Incomeafter all deduction - 389896.00 up to 31.10.08 and Rs. 162767.00 after deduction = (5.52lac) how much tax ?  

 

toatl tax on 5.52 lakhs will be Rs.67,600

 

Note : the tax has been calculated by taking assumption that all deductions and exemptions have bben taken according to the provisins of Income tax Act, 1961

Income-tax on Rs. 552,663 is Rs. 72,922.87
Surcharge Rs. 0.00
Education Cess Rs. 1,415.98
Secondary and Higher Education Cess Rs. 707.99

 

u can check the calculation etc. at the below mentioned website

https://law.incometaxindia.gov.in/TaxmannDit/xtras/taxcalc.aspx

 

for male assessee the tax will be 72718.00 including Education and H. Education cess. And for female assessee it will come to Rs. 69,628.00 including Education and H. Education cess.

Praveen is right tax is calculated in exact amount of total income i.e 552663.00

oops am soooo sorrry that i have committed a silly mistake

 

so sorry for that that i have wrongly calculated the tax .....shrotening it by 3000 rs an d even further by niot including Ec,SHEC

 

sooo sryyy sir for that.......praveen sir is right......

For those who are looking for tax filing help this will provide full information as to how to file their return online...

https://www.knowinfonow.com/2009/05/indian-income-tax-return-filing-for_19.html 

KSK

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details