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+--- Thread: Taxable Income (/showthread.php?tid=7359)
Taxable Income - skystar - 02-07-2010
Mr.Asif is working in an NGO. He received the following income during the year ended on 30th june 2009.
Basic salary Rs.200000 Per annum
Bonus 2 months basics
House subsidy Rs.45000 per month
Conveyance allowance Rs.60000 per annum
Medical allowance Rs.5000 per month
Required Calculate the tax payable by Mr.Asif
- LapTop - 02-08-2010
Add Basic salary Rs.200000 Per annum
Add Bonus 2 months basics= 33,333/=
Add House subsidy Rs.45000 per month= 45000X12= 540000/=
Add Conveyance allowance Rs.60000 per annum
Add Medical allowance Rs.5000 per month= 5000X12= 60000/=
Less Exempt Medical Allowance = 20,000/-
Total Taxable Income for the yea = 8,73,333/=
Tax Rate = 7.5
Tax Payable = 65,500
- LapTop - 02-08-2010
Download-LinkSalary Tax calculator 2009-2010 http//www.megafileupload.com/en/file/134523/Tax-calculator-2009-2010-xls.html