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tax calculation for A.Y. 2010-11

Muthukumar (Chartered Accountant) (78 Points)

26 October 2009

If the taxable income for an individual(male not a senior citizen) is Rs. 10,00,000/- then wat is the tax he should pay for the A.Y. 2010-11? Is it Rs. 2,04,000/- without surcharge or cess OR the calculation should be done along with surcharge & cess?

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6 Replies

Mayank Ahuja ("Learner") (586 Points)
Replied 26 October 2009

It should be calculated without surcharge.............

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FATEMA (CHARTERED ACCOUNTANT) (719 Points)
Replied 26 October 2009

Dear M.Muthukumar,

For the A.Y. 2010-11, surcharge is nil.However Education cess & Secondary and Higher Education Cess still exists. The tax on the income of Rs 10 lacs will attract 2% education cess and 1% secondary & higher education cess.Therefore the tax on total income will be Rs.2,10,120.

Muthukumar (Chartered Accountant) (78 Points)
Replied 27 October 2009

Thanks for the clarification friends

satindera Singh (Manager in Genpact india) (64 Points)
Replied 21 December 2009

Originally posted by : M.Muthukumar
	If the taxable income for an individual(male not a senior citizen) is Rs. 10,00,000/- then wat is the tax he should pay for the A.Y. 2010-11? Is it Rs. 2,04,000/- without surcharge or cess OR the calculation should be done along with surcharge & cess?

it should calculated without charging surcharge because surcharge applicable on income above rs.1000000/-.
Cess shall charged on tax calculated .

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 21 December 2009

Originally posted by : satindera singh
	it should calculated without charging surcharge because surcharge applicable on income above rs.1000000/-. Cess shall charged on tax calculated .