how to calculate tax on pension

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2010 I want to know how to calculate income tax on monthly pension of Rs 33000/-.please give stepwise calculation.

thanks

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
Follow

18 January 2010 If it is your own pension amount then, it will be fully taxable under INCOME FROM SALARY head.

Taxability will be as follow:

33,000*12 = 3,96,000

Tax = upto 1,60,000 = 0
Next 1,40,000 = 14,000
Balance 96,000 = 19,200

Total Tax = 33,200
3% Cess = 996

Total Tax Liab.(Rounding off) = 34,200