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RE:calculation of income tax
by hksrikanth on Mar 05, 2007 09:36 AM

Hi
The tax calculation is simple
Upto 1010000 -> There is no tax
for next 40000 -> 4000 @ 10%
Education cess @ 2% on the taxable amount

Your Travelling Allowance is not taxable.
HRA is not taxable if you submit ur house rent receipts

rgds
Srikanth


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Income tax: Check out changes!