Wat Is The Tax To Be Paid. Please Help Me.. - DOC Download

hai friends,,
i just need a clarification on lic,,
can i show my parents lic account for tax saving including mine account also...
could any of u brief this to me...
and my taxable income is 1,50,000.. wat is the tax amount for me this year...
best regards,
K.Murugan

Murugan
On taxable salary of Rs.150000/- tax wil be 4120/-p.a as upto Rs.110000/- there is no tax however find below the tax slab for current FY
upto110000 - NIL
110-150lac - 10%
150-250lac - 20%
more than250-30%
Add: 3% Cess. = Final tax liability
Rgds,
shiva

Dear Murugan,
A simplified tax computation and investment statement is attached for your reference. See if this helps you.
Regards
Bharathi

Dear Frends,
Can any1 mail me the basics of Tax Computation. I m payroll management. But the tax computation is done by our Finance Division. Need to learn about it.
Regards,
Sumit