Tax liabilty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2013 please let me know tax liability. plz elaborate the process of tax calculations

details are as follow:

Gross salary=525000
other income= 52500
exempt u/s 10
Non taxable Income=23000/-
HRA rebate=60000/-

deduction VI 80c=74308/-
other DGHS=3900/-

Tds=16200

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

08 August 2013 Net Salary = 465000
Other taxable income = 29500
GTI = 494500
Deduction = 74308+3990*50% = 76303
Taxable Income(rounded off) = 418200
Tax = (418200-250000)*10% = 16820
Cess @ 3% = 505
Total tax liability = 17325