How Much Tax Will Be Deducted from a Rs. 600,000 Salary Without PF Deductions?

Good day, everyone. Can anyone please explain how much tax will be deducted on an annual salary of Rs. 600,000? I would appreciate it if you could help me with the breakup and formulas. (No PF deductions)

Income Tax Calculation for Men Below 60 Years of Age

If your annual income from all sources is Rs 600,000, the tax can be calculated by referring to the following tax slabs:

Income Tax Slab | Income Tax Rate

Income up to Rs. 2,50,000 | Nil

Income between Rs. 2,50,001 - Rs. 500,000 | 10% of income exceeding Rs. 2,50,000

Income between Rs. 500,001 - Rs. 10,00,000 | 20% of income exceeding Rs. 500,000

For the first Rs 250,000, no tax is applicable. For the next Rs 250,000, a 10% tax of Rs 25,000 is applicable. For the last Rs 100,000, a 20% tax of Rs 20,000 applies, making the total tax Rs 45,000.

However, it is important to consider adding interest on the SB account and taking deductions into account.

Details Required for Tax Calculation on Rs. 6.00 Lakh Annual Income

If your Rs. 6.00 lakh annual income (salary) is gross, you should provide the following details:

1. Is this for 2015-16 or for an earlier period?
2. HRA received as part of the salary and house rent paid for the full year (1.4.15 to 31.3.16).
3. Does it include any perks other than basic, DA, and regular allowance? If yes, please provide details.
4. Any other incomes like dividends, interest on investments such as bank FDs, and SB accounts. Also, indicate your savings including:
- Premium paid towards LIC, medical insurance, NSC, mutual funds, 5-year bank FDs, and infrastructure bonds.
- Children's education - tuition fees.
- Any house building loans taken from banks, with EMI refunded and a breakup towards principal and interest (to be supported by a bank certificate).
- Medical expenses/premium incurred on self, family, dependent parents, and handicapped individuals.
- Contribution towards PPF and other pension funds.
- TDS and advance tax remitted/recovered by your office so far. If not, you are liable for some interest on delay.

Regards

You can use this IT Department link for calculating your tax liability yourself:

[Income and Tax Calculator](http://www.incometaxindia.gov.in/Pages/tools/income-tax-calculator.aspx)

You need to give the details of your salary breakdown headwise, such as basic salary, house rent, etc. Also, provide information about the amount you are paying for house rent, expenses for school-going children, as well as details of your savings under sections 80C and 80D for calculation purposes.

Guidance Needed on Salary and Tax Deductions

I am working in a startup company in Delhi, which registered itself three months ago and has not generated any revenue yet. The company is currently in the investment phase. We have 15 employees, with salaries ranging from 10,000 to 75,000 INR monthly. There is no PF registration, so no PF deduction is being made.

My question is, should we deduct tax from the salaries of employees who fall into the tax bracket? How should I design the employee salary breakup to minimize the tax burden? Should we deduct professional tax too?

Thank you for your valuable advice.