Tax liability
This query is : Resolved
28 July 2014
total salary 293927
exmptd alwnc 2400
PF u / S 80c ( shown in 16 ) 9804
tx ddcted 6173+185
bt when m filing d return online
it showing tx liability 1010
is the PF exmptd u/S 80c
..
29 July 2014
yes PF is deductible under 80C. you should not have any tax liability other than tax already deducted.
29 July 2014
You Question is not clear . Still if I understood like this then UR ans can be as follows:
1. Salary : 293927
2. 80C ded.: 9804
3. Exempt Allowa. : 2400
4. TDS :6173 + 185 = 6358
If UR question ( Why are you not writing clearly to get the help)is correct then ur Tax liability will be as as below:
293927-9804-2400 = 281723
281723-200000 = 81723 ( Taxable)
--> Tax will be 8170
8170- 6358 = 1812 ( Will be actual tax payable by U)
Or
You can calculate using ITR-1 or 2 utility file the exact amount of Tax to be paid after filling relevant income and 80c , TDS etc. and u will get correct figures.
1. Salary : 293927
2. 80C ded.: 9804
3. Exempt Allowa. : 2400
4. TDS :6173 + 185 = 6358
If UR question ( Why are you not writing clearly to get the help)is correct then ur Tax liability will be as as below:
293927-9804-2400 = 281723
281723-200000 = 81723 ( Taxable)
--> Tax will be 8170
8170- 6358 = 1812 ( Will be actual tax payable by U)
Or
You can calculate using ITR-1 or 2 utility file the exact amount of Tax to be paid after filling relevant income and 80c , TDS etc. and u will get correct figures.
29 July 2014
Dear Alok,
What about 87A deduction. You forgot to provide teh same.
What about 87A deduction. You forgot to provide teh same.
29 July 2014
yes Nikhil under 87A , 2000/- deductions to be considered .
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