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Tds on salary
My income is Rs.5100000 tax including surcharge is 1476750 and marginal relief is 64250 what is net tax laibility.
Replies (2)
Your Net tax liability will be 1412500/-
As you have done calculation for marginal relief is correct with surcharge tax - 1476750/-
without surcharge- 1412500
soo take benefit of Margin relief
As you have done calculation for marginal relief is correct with surcharge tax - 1476750/-
without surcharge- 1412500
soo take benefit of Margin relief
Net tax liability = Tax liability including cess and surcharge - Marginal relief.
So, it's 14,12,500/- (i.e 14,76,750 - 64,250).
From 14,12,500 deduct TDS, advance tax to arrive at net tax payable.
So, it's 14,12,500/- (i.e 14,76,750 - 64,250).
From 14,12,500 deduct TDS, advance tax to arrive at net tax payable.
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