Shamily
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What's the income tax an entry level software engineer earning 3 lac p.a should pay in India?
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CHITRANJAN AGARWAL
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Dear Shamily,
As per the income tax provision, any individual who earn income than he is eligible to get the exemption limit of rs 250,000/- also if his total earning during the year is less than 500,000/- than he is also eligible to get the benefit of rs 2,000/- under section 87A.
So in nut sell your exemption limit of rs 270,000/- and balance rs 30,000/- is taxable at 10.30%. however you can save your tax if you invest rs 30000 under section 80C.
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CA Chitranjan Agarwal
