22 March 2017
my father income is 700000.his Age 69,i have invest 150000 in 80c. benefit of 10tta is 10000.no other benefit. so calculate my father Tex in year 2016-17
22 March 2017
Net Taxable income is Rs. 540000 (700000-150000-10000) Tax on Rs. 540000 - Rs. 28840 On first 3 Lakhs - Exempt on Next 2 Lakhs - 20000 (10%) on balance 40000 - 8000 (20%) 3% education cess on 28000 (20000+8000)
CAclubindia
