gunesh
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What is the income tax on a salary of Rs.12 lakhs per annum?
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Raja
answered
Dear Mr.Gunesh,
Tax shall be calculated as follows for the FY 2015-16 i.e.AY 2016-17
Indiaviduals below 60 years:
Rs.25000+Rs.100000+Rs.60000=Rs.185000 plus 3%SHEC RS.5550 TOTAL TAX=rS.190550/-
INDIVIDUAL 60 TO 80 YEARS.
RS.20000+RS.100000+RS.60000+3% SHEC RS.5400. TOTAL TAX=RS.185400/-
INDIVIDUAL ABOVE 80 YEARS
RS.100000+RS.60000+SHEC 3% 4800. TOTAL TAX=RS.164800/-
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