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Very Urgent ,Tax Query help me

704 views 1 replies

Basic      12,285

HRA          4914

Coneveyance      800

Special Allowance 5321

medical Allowance  1250

Gross Salary           24750

Professional Tax        200

So i am paying 10000, and 15000 insuranse i,e 25000 under 80c

rebt paying 7000 per month , residence at hyderbad

can any one say how much is my taxable income.

i want to pay donation to charitable trust and how much i can donate to claim excemption and to which trust i can pay .please give me reply

 

Replies (1)

Hi,

 

Please find ur tax calculation

Your Gross Taxable Income      294,840.00
     
Less: Deducation U/S 10        68,568.00
     
Income from Salary      226,272.00
   
Any other Income                     -  
     
Gross Taxable Income      226,272.00
     
Deduction u/chapter -VI-A (Savings)        25,000.00
     
Net Taxable Salary      201,272.00
   
Your Gross Taxable Income      294,840.00
     
Less: Deducation U/S 10        68,568.00
     
Income from Salary      226,272.00
   
Any other Income                     -  
     
Gross Taxable Income      226,272.00
     
Deduction u/chapter -VI-A (Savings)        25,000.00
     
Net Taxable Salary      201,272.00
     

Tax Nil


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