How is your tax calculated?

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Re: tax related question by Priyanka on Apr 24, 2009 02:46 PM Hi.. Since you are earning 25,000 p.m. your yearly income will be 25,000 * 12 = rs.3,00,000 INCOME TAX RATE AMOUNT TO BE PAID 0 - 50,000 No tax NIL 50,001 to 60000-50000= 60,000 10% 10,000 * 10% = 1000 60,001 to 90000*20%= 1,50,000 20% 18,000 1,50,000 to 150000*30%= 8,50,000 30% 45,000 Total Tax payable = 1000 18000 45000= 64,000 Note: In the third slab 150000 to 850000 we have calculated on only 150000 bcos ur total yearly income is 3,00,000. So tax will be calculated on howmuch excess amt on 1,50,000 hence 3,00,000-1,50,000 = 1,50,000. On which we have calculated the tax. Hope this is helpful.Please feel free to revert for further clarification.    Forward   |   'Report abuse' disabled by moderator

RE:RE:Pan card by Shanmugasundaram on Feb 28, 2008 07:02 PM Sir I applied PAN card a month back and I checked in PAN tracker for my status. It tells my PAN card already despatched on 13.02.2008, till I ddnt received. wat can i do for the delay?    Forward   |   Report abuse

Re: tax by SURAJ on Nov 17, 2008 02:09 PM u are not tax payee becuse as per slab women's income upto 145000 is tax free.    Forward   |   Report abuse