Tds on salary
Abhishek Selvam O (374 Points)
29 July 2020
My income is Rs.5100000 tax including surcharge is 1476750 and marginal relief is 64250 what is net tax laibility.
2 Replies
annu Goyal
(1102 Points)
Replied 29 July 2020
Your Net tax liability will be 1412500/-
As you have done calculation for marginal relief is correct with surcharge tax - 1476750/-
without surcharge- 1412500
soo take benefit of Margin relief
As you have done calculation for marginal relief is correct with surcharge tax - 1476750/-
without surcharge- 1412500
soo take benefit of Margin relief
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 30 July 2020
Net tax liability = Tax liability including cess and surcharge - Marginal relief.
So, it's 14,12,500/- (i.e 14,76,750 - 64,250).
From 14,12,500 deduct TDS, advance tax to arrive at net tax payable.
So, it's 14,12,500/- (i.e 14,76,750 - 64,250).
From 14,12,500 deduct TDS, advance tax to arrive at net tax payable.
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