Hi i have a new offer for 13 lakhs and when i exclude the non taxable components and my investment the taxable income is 1,102,200. From this do i need to calculate flat 30% as tax or what ? some say it is like
Tax upto Rs 5 lakhs = 32,000
5- 8 lakhs = 60,000
8 -13 = 150,000
Total = 242,000
need help...not sure how to calculate
From India
1Tax upto Rs 5 lakhs = 32,000
5- 8 lakhs = 60,000
8 -13 = 150,000
Total = 242,000
need help...not sure how to calculate
From India
Hi,
Income tax slabs for current financial year is as under :
Income Tax Slab for Financial Year 2012-13 Assessment Year 2013-14
For Men and women : Up to 65 years
Up to Rs. 2 lacs - Nil
from 2 lacs to Rs. 5 lacs - 10 %
from 5 lacs to 10 lacs - 20 %
above 10 lacs - 30 %
And Education cess of 3 % on the same.
From India, Ahmadabad
Income tax slabs for current financial year is as under :
Income Tax Slab for Financial Year 2012-13 Assessment Year 2013-14
For Men and women : Up to 65 years
Up to Rs. 2 lacs - Nil
from 2 lacs to Rs. 5 lacs - 10 %
from 5 lacs to 10 lacs - 20 %
above 10 lacs - 30 %
And Education cess of 3 % on the same.
From India, Ahmadabad
Thanks Mr.Nilay. So for a taxable income of 1,102,200
0 to 2 lacs = nil
2 to 5 lacs = 30,000
5 to 10 lacs = 1,00,000
10 to 1,102,200 = 30660
total = 1,60,660 + 4819 (3 %)
= 1,69,479 i.e 13,789 per month
is this correct, pls confirm
From India
0 to 2 lacs = nil
2 to 5 lacs = 30,000
5 to 10 lacs = 1,00,000
10 to 1,102,200 = 30660
total = 1,60,660 + 4819 (3 %)
= 1,69,479 i.e 13,789 per month
is this correct, pls confirm
From India
Pls. also give details of your investment, LIC, Children school fees etc...... then only you will find actual taxable amount.
From India, Ahmedabad
From India, Ahmedabad
Dear Sherin, I have just uploaded the sample excel sheet explained how to calculate the tax.. this will guide you clear picture of income tax details.... Cheers Govindaraj
From India, Hyderabad
From India, Hyderabad
Hi, The tax calculation is ok..but the Total will be Rs. 1,65,479/- and not Rs. 1,69,479/-.
From India, Ahmadabad
From India, Ahmadabad
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