Tax liability

Mahalaxmi (job seeker) (1203 Points)

27 September 2013

total income 955525/-.how to calculate tax liability with current slab rates

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CA Pallav Singhania (IT System Auditor) (33262 Points)
Replied 27 September 2013

Up to 200000 no Tax,

200000 to 500000= 10 percent

500000 to 1000000 = 20 percent

100000 and above = 30 percent

Upto 200000 No tax,

Beyond 200000 to 5 lakhs 10 percent i.e 30000

Beyond 500000 to 755525 20 percent i.e 51105

Total 81101 plus 3 percent Cess

Total tax..... 83534

Mahalaxmi (job seeker) (1203 Points)
Replied 27 September 2013

total income is agricaltural +nonagricaltural income how much?

CA Pallav Singhania (IT System Auditor) (33262 Points)
Replied 27 September 2013

Agricultural Income exempt from Tax...

Mahalaxmi (job seeker) (1203 Points)
Replied 27 September 2013

yes.at set off loss

CA Pallav Singhania (IT System Auditor) (33262 Points)
Replied 27 September 2013

Any Loss can not be set off against Exempted income...

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