tax calculation
This query is : Resolved
02 January 2024
Dear Sir
How much is the tax relief in the case of the following scenario ?
Fy 23-24
Gross income-10 lakhs
Deductions-pf 1.5 lakhs and housing loan 1.5 lakhs and standard deduction 50000
Gross total of arrears of fy 22-23 received in fy 23-24-4 lakhs
Deduction of pf from arrears-1 lakh
Fy 22-23
Gross income-7 lakhs
Deductions-1 lakh pf and 50000 standard deduction
Old regime is opted in both the years
How much is the tax relief in the case of the following scenario ?
Fy 23-24
Gross income-10 lakhs
Deductions-pf 1.5 lakhs and housing loan 1.5 lakhs and standard deduction 50000
Gross total of arrears of fy 22-23 received in fy 23-24-4 lakhs
Deduction of pf from arrears-1 lakh
Fy 22-23
Gross income-7 lakhs
Deductions-1 lakh pf and 50000 standard deduction
Old regime is opted in both the years
20 January 2024
https://incometaxindia.gov.in/pages/tools/income-tax-calculator.aspx
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