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When is tax deducted in each tax year?

How much income tax will be deducted? 3.0 lacs per year package.?

  • My package is 3.0 lacs per year. Considering no investment from my side what shall be the amount of income tax deducted.

  • Answer:

    hi Your income is Rs.3.00 lacs for the current year and you have no claim to make under section 80C. Thus your taxable income will be Rs.3.00 lacs. Tax on salary income will depend on your status as individual - i. As a senior citizen the tax will be Rs.6,180/- (10.3% on income above Rs.2,40,000 ii. As a Women assessee the tax will be Rs.11,300/- (10.3% on income above Rs.1,90,000 iii. Others the tax will be Rs.14,420/- (10.3% on income above Rs.1,60,000 Good luck.

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for men tax exemption is upto 1.6lac - after that 10% tax from 1.6 to 3 lac so considering u get 3 lac per annum - u will be taxed for (3-1.6 lac) = 1.4 lac 10% of 1.4 lac is 14000 - so if u dont invest on anythin u will loose 14000 per annum... But, i assume that u pay PF and ur company gives u travel allowance and all these amounts wont be taxed and it will be reduced frm ur annual pay for tax calculating... so if u give full detail of urs like PF, TA etc... it will be easy to say hw much u will taxed....

Astrilian

well, by this time you would have got an answer how much you have to pay, how much to invest etc etc. If you are salaried person, there is little trick where you can actually earn little thousands by little calculation. Check the below link to understand the trick better :) http://2bnamed.blogspot.com/2010/01/additional-tax-saving-salaried.html

B S

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