Deduction from gross total income

Direct Taxation

How the tax liability is 119700 on 1024000

Subramanyam N

CA Inter

★ 6K+

08-May-22 15:48

531

Answers (3)

0 to 2.5 _ Nil 2.5 to 5 _5%. =. 12,500 5 to 10. _20%. = 1,00,000 10 above _ 30% = 7,200 ___________ 1,19,700

amal raj

CA Final

★ 1K+

08-May-22 16:06

The total taxable Income is 10,24,000 0 to 2,50,000 - 0 2,50,000 to 5,00,000 - 2,50,000*5% - 12,500Rs 5,00,000 - 10,00,000 - 5,00,000*20% - 1,00,000Rs. 10,00,000 - 10,24,000 - 24,000*30% - 7,200 Rs. Total Tax liability is 12,500 + 1,00,000 + 7,200 = 1,19,700Rs.

shalu Muthukumar

CA Final

★ 1K+

08-May-22 16:09

Slab Rates

Attachments

Swetha S

CA Inter

★ 15K+

08-May-22 16:18