Calculation of Income tax an Employee Below 60 Age A.Y.2018-19 ANNEXURE-I SOME ILLUSTRATIONS Example 1 For Assessment Year 2018-19 (A) Calculation of Income tax in the case of an employee(Male or Female) below the age of sixty years and having gross salary income of: i) Rs.2,50,000/- , ii) Rs.5,00,000/- , iii) Rs.10,00,000/- iv) Rs.55,00,000/-. and […]
Income Tax Rates
Income Tax Calculation For House Rent Allowance – U/s 10 (13A)
Illustrative calculation of House Rent Allowance U/s 10 (13A) in respect of residential accommodation situated in Delhi in case of an employee below the age of sixty years (With valid PAN furnished to employer). S.No. Particulars Rupees 1 Salary 7,00,000 2 Bonus 1,40,000 3 Free gas, electricity, water etc. (Actual bills paid by company) 40,000 […]
Calculation Of Income Tax Assessment Year 2018-19 – Medical Treatment Expenditure
Example 3 For Assessment Year 2018-19 Calculation of Income Tax in the case of an employee below age of sixty years where medical treatment expenditure was borne by the employer (With valid PAN furnished to employer). S.No. Particulars Rupees 1 Gross Salary 5,20,000 2 Medical Reimbursement by employer on the treatment of self and dependent […]
Income Tax Calculation Ay 2018-19 – Handicapped Dependent
Income Tax Calculator Ay 2018-19 – Handicapped Dependent For Assessment Year 2018-19 Calculation of Income Tax in the case of an employee below the age of sixty years having a handicapped dependent (With valid PAN furnished to employer). S.No. Particulars Rupees 1 Gross Salary 4,20,000 2 Amount spent on treatment of a dependant, being person […]
CBDT notifies Income Tax Return Forms for Assessment Year 2018-19
CBDT notifies Income Tax Return Forms for Assessment Year 2018-19 05 APR 2018 The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative benefited around 3 crore taxpayers, who have filed their […]