Shubham kumar (.) (620 Points)
21 February 2013
binodpant
(job)
(42 Points)
Replied 21 February 2013
| Originally posted by : Shubham kumar | ||
 |
Mr. Subramaniam, aged 72 years, informs that his taxable income for the A.Y. 2013-14 is Rs. 8,92,700. compute the tax payable. .. .. . answer is Rs.1,06,650, after sounding off. PLEASE EXPLAIN.. |
 |
For the AY 201-14
Upto 250000 -500000 @ 10%
500000-1000000 @ 20%
So,
Tax on first 250000 @ 10%=25000
on balance 392700 @ 20%=78540
total =103540
Education cess & Shec @ 3%=3106
Total tax payable =1,06,646
Rounded Off to 1,06,650
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 21 February 2013
Age is 72 years, he is a senior citizen
Slabs and tax rates for the financial year 2012-13 are,
upto 250000 - 0
250000 - 500000 - 10%
500000 - 1000000 - 20%
Above 1000000 - 30%
Answer
Upto 250000 - 0
(500000-250000)*10% - 25000
(892700-500000)*20% - 78540
total 103540
Cess @ 3% 3106
Total (Rounding off) 106650
What r u studying
binodpant
(job)
(42 Points)
Replied 21 February 2013
| Originally posted by : V Vara Prasad | ||
|
|
Age is 72 years, he is a senior citizen Slabs and tax rates for the financial year 2012-13 are, upto 250000 - 0 250000 - 500000 - 10% 500000 - 1000000 - 20% Above 1000000 - 30% Answer Upto 250000 - 0 (500000-250000)*10% - 25000 (892700-500000)*20% - 78540 total 103540 Cess @ 3% 3106 Total (Rounding off) 106650 What r u studying |
|
I am a qualified chartered accountant and u have copied my answer dude
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 21 February 2013
I am asking Mr.shubham kumar and not you Mr.binodpant
Shubham kumar
(.)
(620 Points)
Replied 21 February 2013
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
