Tax liability
This query is : Resolved
03 January 2012
Female Assessee
Basic- Rs. 8167/-
HRA- Rs. 4083/-
India Allowance - Rs. 8223/-
Conveyance Allowance- Rs. 800/-
Special Allowance- Rs. 687-
Gross Salary per month Rs. 21960/-
Deductions:
PF 12% Rs. 980/-
Net Salary PM Rs. 20980/-
Rent paid in metro city is rs. 3000 per month
what will be the tax liability FOR ASS YEAR 2012-13 if the same salary was given throughout the year.
Basic- Rs. 8167/-
HRA- Rs. 4083/-
India Allowance - Rs. 8223/-
Conveyance Allowance- Rs. 800/-
Special Allowance- Rs. 687-
Gross Salary per month Rs. 21960/-
Deductions:
PF 12% Rs. 980/-
Net Salary PM Rs. 20980/-
Rent paid in metro city is rs. 3000 per month
what will be the tax liability FOR ASS YEAR 2012-13 if the same salary was given throughout the year.
03 January 2012
Total Tax liability = 10.3% of Rs. 16160 i.e. Rs. 1664.48
This can be brought down to zero by investing those Rs. 16160 in tax saving instruments u/s 80C or 80CCF.
This can be brought down to zero by investing those Rs. 16160 in tax saving instruments u/s 80C or 80CCF.
03 January 2012
Thank you, but sir how 16160/-
what is the treatment for India allowance.
what is the treatment for India allowance.
04 January 2012
India Allowance is treated as normal income.
If you want break-up, you can drop me a test mail on saurabh@nidhiinvestments.com
I will mail u the break up.
If you want break-up, you can drop me a test mail on saurabh@nidhiinvestments.com
I will mail u the break up.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
