Scribd Logo
Upload

Welcome to Scribd!

  • 47 views

    Income Tax Calculator

    Uploaded by

    VINOD KA
    The taxpayer had a gross total income of Rs. 1,557,688 consisting solely of income from business/profession. After accounting for tax deductions and credits, the taxpayer's total tax payable was Rs. -236,254, meaning they were entitled to a tax refund of Rs. 236,254. Their taxable income was taxed in slabs of 0-5%, 5-10%, 10-15%, 15-20%, 20-25%, 25-30% resulting in a total tax of Rs. 192,306, which was less than their tax deducted and credits of Rs. 428,560.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Income Tax Calculator

    Uploaded by

    VINOD KA
    47 views2 pages
    The taxpayer had a gross total income of Rs. 1,557,688 consisting solely of income from business/profession. After accounting for tax deductions and credits, the taxpayer's total tax payable was Rs. -236,254, meaning they were entitled to a tax refund of Rs. 236,254. Their taxable income was taxed in slabs of 0-5%, 5-10%, 10-15%, 15-20%, 20-25%, 25-30% resulting in a total tax of Rs. 192,306, which was less than their tax deducted and credits of Rs. 428,560.

    Original Description:

    Original Title

    INCOME TAX CALCULATOR.xlsx

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The taxpayer had a gross total income of Rs. 1,557,688 consisting solely of income from business/profession. After accounting for tax deductions and credits, the taxpayer's total tax payable was Rs. -236,254, meaning they were entitled to a tax refund of Rs. 236,254. Their taxable income was taxed in slabs of 0-5%, 5-10%, 10-15%, 15-20%, 20-25%, 25-30% resulting in a total tax of Rs. 192,306, which was less than their tax deducted and credits of Rs. 428,560.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    47 views2 pages

    Income Tax Calculator

    Uploaded by

    VINOD KA
    The taxpayer had a gross total income of Rs. 1,557,688 consisting solely of income from business/profession. After accounting for tax deductions and credits, the taxpayer's total tax payable was Rs. -236,254, meaning they were entitled to a tax refund of Rs. 236,254. Their taxable income was taxed in slabs of 0-5%, 5-10%, 10-15%, 15-20%, 20-25%, 25-30% resulting in a total tax of Rs. 192,306, which was less than their tax deducted and credits of Rs. 428,560.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    INCOME FROM SALARY 0.

    00
    INCOME FROM BUSINESS/PROFESSION 1557688.00
    INCOME FROM HOUSE PROPERTY RENTAL 0.00
    INCOME FROM CAPITAL GAIN 0.00
    INCOME FROM ANY OTHER SOURCE 0.00
    GROSS TOTAL INCOME 1557688.00

    Less-Deductions (Limit Rs.150000) 0.00


    (PF,PPF,LIC,HOME LOAN PRINCIPAL,FIXED DEPOSIT,NSC)

    TAXABLE INCOME 1557688.00

    TAXABLE INCOME TAX RATE TOTAL TAX


    UP to Rs.5 Lac 0% 500000.00 0.00
    Rs.5 Lac to Rs.7.50 Lac 10% 250000.00 25000.00
    Rs.7.5 Lac to Rs.10.00 Lac 15% 250000.00 37500.00
    Rs.10.00 Lac To 12.50 LAC 20% 250000.00 50000.00
    Rs.12.50 Lac To 15.00LAC 25% 250000.00 62500.00
    Rs.15.00 Lac To Above 30% 57688.00 17306.00
    1557688.00 192306.00

    Total Tax 192306.00


    Less:-TDS,TCS,IT ADVANCE 428560.00
    Total Tax Payable -236254.00
    INCOME FROM SALARY 0.00
    INCOME FROM BUSINESS/PROFESSION 1557688.00
    INCOME FROM HOUSE PROPERTY RENTAL 0.00
    INCOME FROM CAPITAL GAIN 0.00
    INCOME FROM ANY OTHER SOURCE 0.00
    GROSS TOTAL INCOME 1557688.00

    Less-Deductions (Limit Rs.150000) 0.00


    (PF,PPF,LIC,HOME LOAN PRINCIPAL,FIXED DEPOSIT,NSC)

    TAXABLE INCOME 1557688.00

    TAXABLE INCOME TAX RATE TOTAL TAX


    UP to Rs.2.5% 0% 500000.00 0.00
    Rs.2.5 Lac to Rs.5 LAC 10% 250000.00 25000.00
    Rs.5Lac to Rs.10 Lac 15% 250000.00 37500.00
    Rs.10.00 Lac to above 20% 250000.00 50000.00
    Rs.12.50 Lac To 15.00LAC 25% 250000.00 62500.00
    Rs.15.00 Lac To Above 30% 57688.00 17306.00
    1557688.00 192306.00

    Total Tax 192306.00


    Less:-TDS,TCS,IT ADVANCE 428560.00
    Total Tax Payable -236254.00

    You might also like