income tax calculator

[gambit]

Is there an income tax calculator on the net for the financial year 2005-06? If yes, cld u pls give me the website?

[gambit]

I earn a annual gross salary of Rs 168900 without the PF, gratuity, mediclaim... Cld some maths wizard pls help me calculate the income tax I will have to pay on this gross annual sal?

[krishnathelord]

gross salary of Rs 168900
Less : standard Dedustion U/s 16(1) 30000
Net income 138900

Tax thereon 16780
Add: Education cess 336
Taxpayable 17116

and buy the way u dont need a mathematitian to calculate tax rather u need a tax practitioner for this job

here i have assumed u dont have any other income and u r not eligible for any other deduction under chapter IVA or rebate U/s 88

[tuxfan]

I can calculate your taxes. Let me have the full details by PM

Standard deduction is 40% or 30000 whichever is less. But this is the last year for this deduction, you will not get it from nest year onwrds

[krishnathelord]

Originally Posted by tuxfan

I can calculate your taxes. Let me have the full details by PM

Standard deduction is 40% or 30000 whichever is less. But this is the last year for this deduction, you will not get it from nest year onwrds

said correct

but u will get a straight cut 1 lac deduction in lieu of decduction and rebate

[gambit]

the details of my sal:
basic 7000
hra 3500
conveyance 800
flex benefit plan 2775
pf 840
gratuity 336
mediclaim 83