Income tax liability

This query is : Resolved

venkatesh k (Querist)
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20 June 2014 REQUEST TO CALCULATE INCOME TAX FOR THE YEAR 2013-14

INCOME FROM BUISNESS 35.00
LESS DEPN 9.6
NET INCOME 25.4 LAKHS

NO INCOME FROM OTHER HEAD OF ACCOUNTS

Sandeep Dharar

Sandeep Dharar (Expert)
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20 June 2014 Flat 30.9% rate will b applicable on assessees other than individual. This rate is inclusive of cess and is after all deductions under chapter VIA and Advances.

Rupesh Jain

Rupesh Jain (Expert)
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20 June 2014 if you are other than individual/HUF the pay 30.90% tax on income.

if your are Individual/HUF if you are any investment for claiming u/s 80 then after that taxable income come.

and tax according to tax slab.

upto rs. 200000 NIL
2 to 5 Lacs 10%
5 to 10 lacs 20%
above 5 lacas income tax will 30%

and 3% cess. on tax amount

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Sandeep Dharar

Sandeep Dharar (Expert)
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20 June 2014 Rupesh from when Individual Started Claiming Depreciation? And from when the slab is applicable to HUF's