Question

Mrs hinduja age is 50 years least year he taxable income was rs 1630000 how much incone tax has she to pay

Answer 1

Answer:

500000 income tax…. 30 % pof income . 150000…………………std. deduction  150000………. tax after std. deduction . 4400………………. educational cess 3%. 154000………….tax after edu cess. Standerd deduction is Rs 30,000.

Till FY 2017-18 / AY 2018-19, the rate of Education cess is 3% ( 2% cess for Primary education and 1% cess for Secondary & Higher education). It is levied on Personal income tax and Corporation tax.

It means this 4% rate will be applicable from FY 2018-19 / AY 2019-20.A..Income Tax Slabs for Individual Tax Payers & HUF (Less than 60 Years Old) for FY 2016-17 – Part I. Income Tax Slabs

Explanation:

Answer 2

Answer:

• 500000 income tax…. 30 % pof income . 150000…………………std. deduction  150000………. tax after std. deduction . 4400………………. educational cess 3%. 154000………….tax after edu cess. Standerd deduction is Rs 30,000.
• Till FY 2017-18 / AY 2018-19, the rate of Education cess is 3% ( 2% cess for Primary education and 1% cess for Secondary & Higher education). It is levied on Personal income tax and Corporation tax.
• It means this 4% rate will be applicable from FY 2018-19 / AY 2019-20.A..Income Tax Slabs for Individual Tax Payers & HUF (Less than 60 Years Old) for FY 2016-17 – Part I. Income Tax Slabs