Understanding Income Tax: How Is It Calculated on a 2.5 CTC for Women?

Dear all,

Please clarify the following, as it is very essential for me. Kindly do the needful.

If a woman is drawing 2.5 ctc and her gross comes to 2.2, then income tax will be calculated on 2.2 according to the income tax slab. Is that so?

If there is 10% to be paid, then 10% of 2.2 should be calculated. Please confirm.

For women, the tax is nil up to 1.8L. So here tax will be applicable from 1.8L to 2.5L, i.e., 10% on 70k.

Hi Anurag,

Please refer to the tax calculator to calculate the tax accordingly for male/female staff.

Best regards

Dear Anurag,

I am really very thankful to you. Many people posted tax calculators before, but it was hard for me to understand them. Yours is so simple and informative. Thanks once again.

Neelima

Neelima,

Form 16 contains a declaration regarding the payment of salary as well as the details of the deduction of TDS on Salary. This is given by the employer at the end of the financial year after filing the employer's return of TDS. In case the employee is leaving the organization, the same can be issued at an early date.

The Return of Income of an individual getting salary is filed on the basis of the information contained in Form 16.

Regards,
Anurag