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Tax liability?

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Income from april 2013 to december 2013 is Rs.376121

TDS during this period is Rs. 11200

income from january to mach 2014 is Rs. 154899 

TDS during this period is 8051.

deduction under 80C is Rs. 100000

what will be the tax laibility?

Thanks 

Replies (2)

Total Income = Rs. 376,121 + 154,899 = Rs. 531,020/-

Less Deduction u/s 80C = Rs. 100,000/-

Taxable Income = Rs. 431,020/-

Tax liability = Rs. 44,395/-

Less TDS deducted = 11,200 + 8,051 = Rs. 19,251/-

Rs. 25,144/- tax payable

thanks for the reply dear 

pls clear one more thing

in Form 16 of second company ( i.e. from january to march), it is mentioned that:  Income under the head  Salaries of the employee (other than from perquisites)   is Rs. 490,356 and this 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.

now please tell me what is the tax liablility.

should it be 490356 - 100000 (80c)=390356

taxable income Rs. 390356

tax liability=17547

and Less TDS deducted = 11,200 + 8,051 = Rs. 19,251/-

tax refunded= 19251-17547

=1704?????

pls tell me aout it.

 


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