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. 12,00,000 per annum, can any body work out the tax liability taking into consideration ( and ofcourse mentioning) the concessions available under different sections.
-Srinaren
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. 12,00,000 per annum, can any body work out the tax liability taking into consideration ( and ofcourse mentioning) the concessions available under different sections.
-Srinaren