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    PARTHIBAN
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    This document provides details of an individual's total income, taxes, and tax exemptions for the year. The total income is Rs. 3,80,000 per year, including a basic income of Rs. 1,72,600 per month and HRA (housing rent allowance) of Rs. 60,410 per month. The taxable income falls under different tax slabs of 0%, 10%, 20%, 30% depending on the amount. Total tax comes to Rs. 2,00,000. Various exemptions are available under Section 80C including PPF, LIC, and house loan principal which total Rs. 96,704 reducing the taxable income. The maximum HRA exemption allowed is the lower of actual

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    This document provides details of an individual's total income, taxes, and tax exemptions for the year. The total income is Rs. 3,80,000 per year, including a basic income of Rs. 1,72,600 per month and HRA (housing rent allowance) of Rs. 60,410 per month. The taxable income falls under different tax slabs of 0%, 10%, 20%, 30% depending on the amount. Total tax comes to Rs. 2,00,000. Various exemptions are available under Section 80C including PPF, LIC, and house loan principal which total Rs. 96,704 reducing the taxable income. The maximum HRA exemption allowed is the lower of actual

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    11 views2 pages

    Tax 2013

    Uploaded by

    PARTHIBAN
    This document provides details of an individual's total income, taxes, and tax exemptions for the year. The total income is Rs. 3,80,000 per year, including a basic income of Rs. 1,72,600 per month and HRA (housing rent allowance) of Rs. 60,410 per month. The taxable income falls under different tax slabs of 0%, 10%, 20%, 30% depending on the amount. Total tax comes to Rs. 2,00,000. Various exemptions are available under Section 80C including PPF, LIC, and house loan principal which total Rs. 96,704 reducing the taxable income. The maximum HRA exemption allowed is the lower of actual

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Total Income

    Basic
    HRA

    380000 Per Year


    17260 Per Month
    6041 Per Month

    Result
    Taxable Income
    20% Slap
    30% Slap

    0 to 2,00,000
    2,00,001 to
    5,00,000
    5,00,001 to
    10,00,000
    Above 10,00,000
    Total Tax

    -986
    -300986
    -800986
    96704
    72492
    200000

    9600 Transport
    Medical
    0 Hose loan

    300000

    2190 Prof. tax

    500000

    0
    0
    0

    17260
    17260

    12
    12

    207120
    207120

    20712
    186408

    17260
    8000

    12
    12

    207120
    96000

    20712
    75288

    C 50% annual basic

    17260

    12

    103560

    6041

    12

    72492

    80C
    HRA Excption
    No tax
    10%
    20%
    30%

    Infra bound(max 20,000


    180986 Total tax exption

    For HRA

    D HRA Recived

    House Loan Principal


    LIC

    0
    47000

    PPF

    49704

    80c

    96704

    (rent paid-10% of basic)

    (rent paid-10% of basic)

    this is final

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