TAX FOR SALARIED PEOPLE

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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

 


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