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| *Ostroff, Fair and Company>>>India Taxes |
How to calculate income tax for assessment year 2006-7, for salaried class? |
How to calculate income tax for assessment year 2006-7, for salaried class? If a person have the income from salary the tax calculation will be as follow. A salary head person can investment upto 100000/- u/s 80C So he can invest upto 100000 and up to 100000 the income is tax free. if the person have the total salary 300000/- then he can save 100000( 80C) and up to 100000 No tax. on balance 100000 up to 50000 tax rate is 10% and above 20%. if balance income is more than 250000 then tax on balance income is 30%. COUNT ALL SALARIES OF THE PERSON OF WHICH COUNTRY U WANT TO, THEN READ THE INCOME TAX RULE ,IN WHICH THE WHOLE INCOME TAX TO BE PAID. Are You Indian? if yes and your salary income is Indian income then you will have a tax of 0% on 100000 income then 10% for next 50000 and 20% for next 100000 and 30% for income above 250000 and if the income exceeds 1000000 then charge 10% surcharge on the calculated tax and after all those adjustments 2% cess will be charge and if you want more details send your detail about salary income and perquisites and I will give you tax payable my charge for calculating tax is only $10000\- per client don't worry I am just joking |
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