WebIncome and Tax calculator Income and Tax calculator This calculator allows to calculate the Total Income and Tax thereon alongwith interest under section 234 A/B/C Read More Calculator Deferred Tax Calculator Deferred Tax Calculator WebSo, your total deduction = professional tax + your contribution to EPF + the company’s contribution to EPF + employee insurance = ₹2,500 + ₹21,600 + ₹21,600 + ₹3,000 = ₹48,700. Your total yearly take-home salary = gross salary – total deductions = ₹9.50 lakhs - …
Section 80C: Deduction under Section 80C of Income Tax Act
WebHey, As you have mentioned that the CTC is 5.5 LPA, then the in-hand salary can be calculated roughly by two ways. Although none of the ways gives you very accurate results but the actual salary will be very close to it. 1. Divide the CTC by 15. S... WebDec 8, 2024 · Under Section 80C, a taxpayer can claim an exemption for the investments made and expenses incurred up to Rs 1.5 lakh in a financial year. The investments and expenses in the financial year qualify for a deduction claim. For example – To claim tax deduction under old regime in AY 2024-2024, the deduction and expenses must be made … other words for messiness
Best Tax Regime for Rs 20 Lakh Salary The Financial Express
Web5 hours ago · Four per cent additional health and education cess will be added to the income tax liability. Surcharge is also different for different income groups: 10% of income tax if total income > Rs.50 lakh. 15% of income tax if total income > Rs.1 crore. 25% of income tax if total income > Rs.2 crore. 37% of income tax if total income > Rs.5 crore Web5 hours ago · Four per cent additional health and education cess will be added to the income tax liability. Surcharge is also different for different income groups: 10% of income tax if … WebSection 80C allows a maximum deduction up to ₹1.5 lakhs per year from an investor’s total taxable income. Section 80C of the Income Tax Act 1961, along with sections 80CCC and 80CCD, lists a number of financial activities which can reduce your taxable income. Popularly known as 80C deductions these investment and spending actions help you ... rocklist albums of the year