Tax calculation form 2013-2014
This query is : Resolved
28 February 2014
please tell me how to calculate tax in calculation form column 16. my taxable income is 582200.
28 February 2014
Assuming this is your salary income your tax calculation is given hereunder:-
Tax on Rs.300000 @10%=30000
Tax on Rs.82200 @ 20%=16440
Total Income tax=46440
(+)Education Cess=928.8
(+)Sr.& higher education cess=464.4
Total tax liability=47833
from this tax liability deduct tds which was deducted by employer
Tax on Rs.300000 @10%=30000
Tax on Rs.82200 @ 20%=16440
Total Income tax=46440
(+)Education Cess=928.8
(+)Sr.& higher education cess=464.4
Total tax liability=47833
from this tax liability deduct tds which was deducted by employer
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