I'm an indian woman below 65 yrs. my income is 2,00,000, what should be my payable income tax?

Question

I'm an indian woman below 65 yrs. my income is 2,00,000, what should be my payable income tax?

Answer 1

Read about India Income tax rates for financial year 2007-08 (assessment year 2008-09): http://mytaxes.in/index.php?topic=16.0

Answer 2

Taking the entire 200000 as basic pay and having 0% as PF contribution, your tax liability for this FY is 2060.

If you have the breakup of your pay, you may use the calculator at http://prrajan-tax.blogspot.com/2008/03/... and change the cell B22 in "Parameters" tab to F and then fill the "Tax 2008-09" sheet

Answer 3

The non taxable income limit for women is Rs.1,45,000/- for assessment year 08-09.

Accordingly your taxable income is Rs.55,000/-.

Income tax payable is Rs.10500/-

Education Cess Rs. 315/-

Total - Rs. 10815/-