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Income tax 2010-2011
Hi the income tax slabs have been revised in the budget. the following are the slabs: income upto rs.1.6 lakh nil income above rs.1.6 lakh and upto rs.5 lakh 10 per cent income above rs.5 lakh and upto rs.8 lakh 20 per cent income above rs.8 lakh 30 per cent now friends suppose a person draws a salary of rs. 1200000 per annum can any body work out the tax liability taking into consideration and ofcourse mentioning the concessions available under different sections. srinaren
Income tax deductions for new employees
Hi experts i would be joining a company this coming july. i have a few queries on income tax basically tds. 1 would the company deduct the income tax from the salary from the very first month? and if so how can one save under various saving schemes and reclaim the income tax deducted? filing for income tax reimbursement from income tax dept can be a cumbersome process so i would like to know how can i reclaim the income tax from the company itself. 2 is there a provision wherein one can pledge to the company that he/she would save rs. x under tax saving scheme? thanks
Please help - basic question on income tax
Hi i am new so bear with me. 3 questions: 1 let s say a person earns rs 30000 gross salary per month including hra medical allowance etc. so when preparing his monthly payslip do i deduct rs. 250 income tax from his salary of rs.30000? 10 income tax for those earning rs. 30000 per month or 3.6 lacs per year so rs.3000 per year for this person which would amount to rs.250 per month. is this the way it is done or is it only done yearly? i am asking because i need it only for is this deduction okay that is subtracting rs. 250 from rs. 30000 equaling rs. 29750. 2 profession tax in chennai what is it and how to calculate/deduct? is it mandatory? 3 anything else mandatory? the company has less than 20 employees so i don;t need pf or esi but is there anything else mandatory? please help regarding this. thanks.
Simple income tax calculator for the salaried employees.
Simple income tax calculator cum flexi allocation kit for the use of salaried employees of govt and private sector basis the finance bill 2015. tax slabs; rates for individuals below 60 years income slabs income tax rate income up to rs. 2.50 lakhs nil rs. 2.50 to rs. 5 lakhs 10 rs.5 lakhs to rs. 10 lakhs 20 rs. 10 lakhs above 30 rates for individuals below 60 years below 80 years income slabs income tax rate income up to rs. 3 lakhs nil rs. 3 to rs. 5 lakhs 10 rs.5 lakhs to rs. 10 lakhs 20 rs. 10 lakhs above 30 rates for individuals 80 years & above income slabs income tax rate income up to rs. 3 lakhs nil rs. 3 to rs. 5 lakhs nil rs.5 lakhs to rs. 10 lakhs 20 rs. 10 lakhs above 30 surcharge of 12 on income tax those taxable income exceeds rs.1.00 crore will apply. education cess will apply 3 on the income tax & surcharge will apply for all. section 80c gives deduction for various savings schemes upto rs. 1.50 lakhs and additional deduction of rs.50000 towards investment in nps under 80ccd 1b.
Salary break up nedded
Hi can someone give me break up for rs 15000 salary and rs 20000 salary with following components: 1basic 2hra 3conveyence break up must be tax free. thanks....
Income tax
Dear seniors can any one explain me about income tax income tax slabs and exceptions income tax calculations income tax sections income tax deductions in andhra pradesh. i don t have a knowledge about this subject please help me. advance thanks.