01 March 2012
Iam an employee age 51 years. My salary is as follows. Salary recd --- Rs.720000/- Less: P.T ---- Rs. 2500/- Less: Transport allowance Rs.9600 -------------- net Rs.707900/- I have not the following No investment No rent paid No Education fees No Mediclaim No Housing loan
Please let me know the tax liability of my salary income. Please be specific with the slab
Guest
Guest
(Expert)
01 March 2012
Tax will be calculated as follows-
0 to 180000 - nil
180001 to 500000 - 10%
500001 to 800000 - 20%
800001 and above - 30%
08 April 2012
Rate has been given by the expert but you have not given other details about your investment and PF HRA etc. So calculate on gross salary as per slab given by the expert
CAclubindia
