I am getting pension of Rs.17000/- per month and the interest income from the post office on my and my wife's name of Rs.6000/- , so how much income tax and how to calculate this income for the year 2010-11.
20 August 2010
Total Pension 204000 Interest 72000 Total =276000 You are getting pension, hence assuming you are senior citizen i.e attained 65 year age during the year 2010-11.
Exemption limit for senior citizen is 240000/- IF no investment u/s 80 C then tax liablity = 10% plus education cess 2% on 36000/=3672/
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