I am a female and I would like to know if my annual gross salary is Rs 3,23,000 and I have invested an amount of Rs 1,00,000 under section 80C then what will be my taxable income and the tax incurred.
RE:Tax Calculation for 2007-8
by lakshmi narayanan on Mar 15, 2008 12:20 PM Permalink
deduct the amount 100000 in gross, i,e Net value is Rs. 2,23,000. Amount above 1,80,000 is 43,000 and 10% of 43,000 is Rs.4300 ( Rs.4300 is the amount that is to be paid as annual income tax - based on nex tax.) ( Rs.15100 is the amount to be paid for old tax xcalculation) Mail to for queries.lakna_3581@yahoo.com
