15 August 2011
is provident fund also under taxable, if yes then whats the bracket and assessment year, and under what head?
same is the question with Gratuity?
A women earning 20k in hand salary, with a deduction of pf and other medical's, means 240000 in hand per year, does she falls under tax bracket of 10%. means 24k tax (hope calculated correctly of the amount, correct me if i am wrong as i was thinking 240000 - 190000 = 50000 & giving 5k as tax LOL)Moreover, if consideration of tax is 24k is there a way to save out tax?
CAclubindia
