Answer / shilpalatha

Hi,

you cannot avoid tax but, you can reduce it by payinfg
towards insurance policy etc,agricultural income is taken
into consideration but it is exempted upto 50000

Answer / jkulothunganchola

Hi

Actual Rce Annual Income 120,000.00
Acctual P. M HRA 5,000.00 Metro Pali City 50%
Of Basic
Other Wise 40% of Basic
Other Wise 24000/- Govt Emep

Annual Income - HRA = Total Income
Note. Agriculture income ( Omitted By Direct Tax Laws )
Act 1987

Answer / venkatesh

your income is not the taxable income i.e. upto 1,50,000
Exempt from tax

Answer / mohd abdul qader

Tax Avoiding is not legal term according to Income Tax Act.
if a person is avoiding income tax then he/she is liable to
Penalties and prosecution under income tax, Correct term
for this is TAX PLANNING which is correctly calculated by
many people here

Answer / yash

U R MONTHLY SALARY IS =10000 PM
AND HRA RECEIVED = 5000 PM
IF UR HOME IS SAME CITY MEANS
ALL AMOUNT IS TAXABLE
EXAMPLES : 10000+5000=15000 PM IS TAXABLE AMOUNT IN CASE
OFFICE AND HOME IN SAME CITY
TOTAL TAXABLE INCOME=15000*12=180000
150000RS = NIL
(180000-150000)= 30000*10%
= 3000 RS TAX AMOUNT
AND AGRICULTURE INCOME IS FULLY EXEMPTED.

Answer / yash

yaar tum asab salary mein se hra minus kyon kar rahe ho jab wo kah rahah hai ki salary use 120000 and hra 5000 pm milta hai t fir.

pahle socho fir type karo

Answer / sonal

hey guys he is saying house rent he gets not hra why
everyone is calculating hra ...did he said dat plz
understand the question.

Answer / azim

your income is 120000 pa
h ra is 5000*12
= 60000
40% on basic expmted - 48000/-
50% metro city_________
taxable income 72000/-

add: agr. income 80000/-
--------
total tax.incom 152000/-

icome tax @10% on 2000*10%= 200

expemtin agr.incomeis 80000*10%=8000

so your are not liable to pay tax

what is the tax of business income ?

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