It seems I have confused you with my question. What is the tax I need to pay. This is my salary income?

Question

It seems I have confused you with my question. What is the tax I need to pay. This is my salary income?

Answer 1

if you are earning salary above rs 1,10,000 you have to pay taxes, this is the law of the land you are living in.

Answer 2

Honestly yes...

We cannot compute TDS without the break-up of your pay packet.

Please download this calculator from http://prrajan-tax.blogspot.com/2008/03/... and use it for computation.

Answer 3

you don't list your income. Pay your taxes. Ask H&R block to help you. Don't ask the internet.

Answer 4

For the financal year 2007-08, the exemption amount for men is Rs. 1,10,000. Here are the tax rates:

1. From 1,10,001 to 1,50,000 : 10% of amount greater than Rs. 110,000.

2. From 1,50,001 to 2,50,000 : 20% of amount greater than Rs. 1,50,000 plus Rs. 4000.

3. Above 2,50,000 : 30% of amount greater than Rs. 2,50,000 plus Rs. 24,000.

Read: http://mytaxes.in/index.php?topic=16.0