For example: Let us consider a net taxable income of Ravi as Rs. 8, 00,000.
As a male assessee, here’s how his tax is calculated.
Calculation (Please refer to the chart above for tax rates and surcharge)
Tax up to Rs. 1,80,000: Nil
Tax on Rs.1,80,000 to Rs.5,00,000 @ 10%: 32,000
Tax on Rs. 5,00,000 to Rs. 8,00,000 @ 20%: 60,000
Total: 92,000
Educational Cess - 3% of Total Tax: 2,760
0 comments:
Post a Comment