The document outlines income tax rates in India with taxable income up to Rs. 2.5 lakhs at 0%, between Rs. 2.5-5 lakhs at 5%, Rs. 5-10 lakhs at 20%, over Rs. 10 lakhs at 30% and surcharges of 10% and 15% for income over Rs. 50 lakhs and Rs. 1 crore respectively. It provides 3 examples calculating income tax for individuals with gross incomes of Rs. 2.5 lakhs, Rs. 28 lakhs and Rs. 9 crores after exemptions and deductions.
The document outlines income tax rates in India with taxable income up to Rs. 2.5 lakhs at 0%, between Rs. 2.5-5 lakhs at 5%, Rs. 5-10 lakhs at 20%, over Rs. 10 lakhs at 30% and surcharges of 10% and 15% for income over Rs. 50 lakhs and Rs. 1 crore respectively. It provides 3 examples calculating income tax for individuals with gross incomes of Rs. 2.5 lakhs, Rs. 28 lakhs and Rs. 9 crores after exemptions and deductions.
The document outlines income tax rates in India with taxable income up to Rs. 2.5 lakhs at 0%, between Rs. 2.5-5 lakhs at 5%, Rs. 5-10 lakhs at 20%, over Rs. 10 lakhs at 30% and surcharges of 10% and 15% for income over Rs. 50 lakhs and Rs. 1 crore respectively. It provides 3 examples calculating income tax for individuals with gross incomes of Rs. 2.5 lakhs, Rs. 28 lakhs and Rs. 9 crores after exemptions and deductions.
tax rate 6.50% tax rate 6.50% sales tax 292.5 sales tax 366.197183098591 total paid 6000 total paid 6000 calculate income tax
1 gross total income 250000
total exemption 75000 total deduction 20000 taxable income 155000 5% tax on taxable income 7750
2 gross total income 2800000
total exemption 550000 total deduction 230000 taxable income 2020000 20%tax on taxable income 404000
3 gross total income 9000000
total exemption 1500000 total deduction 980000 taxable income 6520000 30%tax on taxable income 1956000 upto RS2.50 lakhs -nill RS 2.50-5 lakhs-5% RS 5-10 lakhs-20% RS 10lakhs and above -30% *surcharge of 10% for income on 50 lakhs and 1 crore. *surcharge of 15% for income on 1 crore and above. first name last name runs v lookup first name last name runs FORMULA sachin tendulkar 54 sachin tendulkar 54 (VLOOKUPE2,A1:C8,3,0) virat kohili 50 riya singh 52 (VLOOKUPE2,A1:C8,3,TRUE) rahul dravid 52 ramesh kanth 56 dravid roy 60 hari priya 58 hari priya 62 rahul dravid 62 riya singh 56 virat kohili 50 ramesh kanth 58 dravid roy 60