After Budget-12, the Income Tax Department has published Online Tax Calculation Software on their portal. This calculator calculate Tax liablity which is based on your Taxable Income of Fin. Year 2012-13 i.e. Assessment year 2013-14. Simple procedure to calculate tax with this calculator. For Example – If you earn annually Rs. 800000/- (Gross Income), deduct from Gross Income your 10 (i) Deductions then Less/Add your House Property Income under section 24. After these Deductions add your Other source of Income and then Less deduction under chapter VIA. After all you get Taxable Income. This Taxable Income Put on Tax Calculator and follow the procedute. You will get Tax Liability for Assessment Year 2013-14.
Subscribe to:
Post Comments (Atom)
India-Mauritius DTAA Protocol Notified: Key Tax Implications
The Government of India has notified the amendment to the Protocol of the India-Mauritius Double Tax Avoidance Agreement (DTAA) on 13 Oct...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
In a recent informal guidance letter, SEBI clarified whether a cousin of a Promoter Group member qualifies as a person ‘related to promote...
-
Key features of File Validation Utility (FVU) version 3.3 FVU 3.3 will be applicable for quarterly TDS/ TCS statements pertaining to...
-
Facts The applicant („A‟) is a closely held Public Limited company incorporated in India in the year 1953. A‟s shareholder included A (...
-
CIT vs. The Instalment Supply Ltd (Delhi High Court) The assessee bought 1614 items of computer systems for Rs.40 lacs from HCL Hewlett ...
-
01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
-
Until now, 'Samaritans' is not how the Independent Directors are purported by Clause 49 in the Listing agreement. An Independ...
-
Facts Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK Centrica Plc a...
-
1. Concept of “limited liability partnership” LLP is an alternative corporate business form that gives the benefits of limited liability ...
No comments:
Post a Comment