Income tax calculation

This query is : Resolved

Sudhakar (Querist)
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28 August 2013 Dear Sir

I am a working women and my monthly salary income is given below. Kindly inform us the actual tax i have to pay.

Basic - 15300
HRA - 6120
Medical All- 1250
Conveyance - 800
Other Exp -19030

Total - 42500

I am paying rent of Rs.6000-00 per month. Kindly do the needful.

Regards
Lakshmi

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 August 2013 Basic salary is fully taxable

HRA is exempted least of the below

1. Actual HRA Rs.6120
2. 40% of Basic Rs.6120
3. Rent paid less 10% of basic ( 6000-1530) = Rs.4470

so HRA exempted up to Rs.4470 and balance Rs.1650 is Taxable

Conveyance Rs.800 fully exempted
medical allowance fully taxable
Other expense fully taxable