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Income tax

SUBHASHINI (Student) (202 Points)

23 March 2009

Hai i have a doubt.. A female employee who is below 65 years of age earning a net salary of Rs 23480.. Her basic Rs 12670, HRA Rs 6330 Petrol allowance Rs 6000 and PF contribution of 12 % is Rs 1520.. for the financial year 2008-2009.. and she pays Insurance premium of Rs 2039 each for May, August, November and February.. How much tax she has to pay for the assessment year 2009-2010?

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6 Replies

CA Ankur Dhamanaskar (Student) (295 Points)
Replied 23 March 2009

No Tax...........

As the net salary itself is less than the applicable slab rates for women......

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Arvind (Article) (150 Points)
Replied 23 March 2009

Originally posted by :SUBHASHINI
"	Hai i have a doubt.. A female employee who is below 65 years of age earning a net salary of Rs 23480.. Her basic Rs 12670, HRA Rs 6330 Petrol allowance Rs 6000 and PF contribution of 12 % is Rs 1520.. for the financial year 2008-2009.. and she pays Insurance premium of Rs 2039 each for May, August, November and February.. How much tax she has to pay for the assessment year 2009-2010?	"

please be mor clear give details.

and 1st reply is not proper as slab for women below age 25 is 180000

CA Ankur Dhamanaskar (Student) (295 Points)
Replied 23 March 2009

What according to u should be the tax amount...............???

Divya Karthik (S) (459 Points)
Replied 25 March 2009

Can profit on sale from a car is an allowable income while calculating income from profit from business while calculating Taxable income.the client are dealing in opticals.

pls help...urgent

(Guest)

Originally posted by :Divya Ramachandran
"	Can profit on sale from a car is an allowable income while calculating income from profit from business while calculating Taxable income.the client are dealing in opticals. pls help...urgent	"

If that car was used for business purpose and depreciation was chareged on the Car then it will go to the short term capital gain directly.................subjected to block concept....i am surprised being a final student you should not have thes types of confusion......