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Tax query

Abhinandan (student) (407 Points)

20 March 2013

I am a salaried central govt employee my net income for the py 12-13 is 213000. Now do i have to pay tax if yes then how much i wil hv to pay tax.....or recent amendment will be applicable now or what.

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3 Replies

Anoop Shrivastava (Free Lancer) (476 Points)
Replied 20 March 2013

As you are saying that your Net Income ( i.e After deductions) is Rs 213,000 then you have to pay tax on Rs 13000 @ 10% ( i.e Rs 1300) +3% Edu Cess on Rs 1300 (i.e .Rs 39)

But i dont think that you have to pay tax on it as your employer must deducted TDS on it. Please check your FORM 16.

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 20 March 2013

The basic exemption limit for F.Y.2012-13 is Rs 2lacs. As Your incomoe is above Rs.2lacs so you will be required to pay tax on it as follows:

(200000-213000)*0.10=Rs1300.

If you watn to save this tax, then you will be reqruied to show an investment of 13000 on or before 31st MArch, 2013. I assume that the net income as given by you is after taking the dedcutions u/s 80C and other sections if any.