IT Calculation With Example

Dear all,
cananybody please tell the income tax calculation .many of them attached one excel sheet for calculation. but i didnt get that properly. here am stating the present example. please tell how you calculate incometax for that.
name: shalini
sex : female.
ctc: 2.20 per annum.
basic monthly : 7000
i know that for female excemption is for 1.8 pa....
so tax will be calculated on 40000 ( 220000-180000)
i.e 10%
will it be 4000 for year
please tell whether am right or not?
regards
bunny

Income-tax (FOR Resident - Female) on
Rs. 220,000 is Rs. 4,120.00
Surcharge Rs. 0.00Education Cess Rs. 80.00Secondary and Higher Education Cess Rs. 40.00

Income-tax (Income of Individuals as Resident - Female) on Rs. 220,000 is Rs. 4,120.00Surcharge Rs. 0.00Education Cess Rs. 80.00Secondary and Higher Education Cess Rs. 40.00

Hi Bunny
Under IT Act there are some Tax Benefit Excemptions. HRA if we take HRA there are 3 formulas to calculate tax excemption amount
1. How much rent are u paying 2. HRA paying by company 3. Rent paid - 10% of Basic whichone is lease that amount will be consider as a HRA Excemption
2. PF 3. Professional TAx 4. Mediclaim upto 15000/- 5. Section 80C. 100000( all savings like NSC, LIC Premiums, Mutual funds, UPLP, etc., 6. Medical Reimbursement offering in the Payslip, 7. LTA.
I think if we see her payslip we can easily say whether she has to pay tax or not.
Thanks and regards
sree

Dear Gupta,
it means what i have stated is corect
10% on 40000 + 80+40
LIC and otehr savings is exempted till one lac ? or more. please clarify
thanks