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(Querist)
08 August 2010 Dear All
Please help me i am confused in income tax slab based calculation.
Pl give me example of taxable income of 500000 with slab wise detais of income tax calculation For Assesment year 2010-11

please
Vishnu
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 August 2010 If you are taxable income is Rs.500000

First Rs.160000- nil

from 160001 to 300000- 10 % - is Rs.14000

from 300001 to 500000- 20 % - is Rs.40000

Total Rs. 54000 plus 3 % e.cess Rs.1620

So total tax liabiity Rs. 55620 for the AY 2010-11
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
08 August 2010 yes, rs. 55620/-
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Guest (Expert)
08 August 2010 yes correct

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