how to calculate?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2010 Respected Sir,

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.

Waitinf for a missive form you.

Pravesh Victor Macwan
Gujarat, Anand.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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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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