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compute income tax for the nett income of Rs 325560
In case of
Individual
Resident women
Senior citizen
Firm add education cess on the tax
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Answer Posted / maruthi
net income = 325560/- as per A.Y.2009-2010.
individual
150001 to 300000 - 10%
in this case net income Rs.325560/- it is more than
Rs.300000/-
Rs.15000+20% ot the amount exceeding Rs.300000/- (325560-
300000)=25560*20/100=5112+15000=20112/-
Resident women
in this case net income Rs.325560/- it is more than 300000/-
Rs.12000+20% of the amount exceeding Rs.300000/- (325560-
30000)=25560*20/100=5112+12000=17112/-
seniore citizen
in this case net income Rs.325560/- it is more than 300000/-
Rs.7500+20% of the amount exceeding Rs.300000/- (325560-
30000)=25560*20/100=5112+7500=12612/-
as per rule firm rate 30%
example =Rs.325560/- *30%
=Rs.97668*3% EC
Rs.97668*3/100= 2930.04
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