Question

If the amount of income tax is rs.6000, then total tax payable will be?​

Answer 1

Answer:

Neha receives a Basic Salary of Rs 1,00,000 per month. HRA of Rs 50,000. Special Allowance of Rs 21,000 per month. LTA of Rs 20,000 annually.

...

How to calculate income tax? (See example)

Up to Rs 2,50,000 Exempt from tax 0

Rs 12,50,000 to Rs 15,00,000 25% (25% of Rs 15,00,000 less Rs 12,50,000) 62,500

OR

Income tax for FY 2020-21 applies to all residents whose annual income exceeds Rs. 2.5 lakh p.a. The highest amount of tax an individual could pay is 30% of their income plus cess at 4% if their income is more than Rs. 10 lakh p.a.