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Answer Posted / venkatesh
calucalating the amount of tax for the current financial
year in begining,with respect to that deduct the part of
amont of tax(ex:He/She salary for the month is 20,000 i.e.
for the whole year 2,40,000 (20000*12)
Rate of Tax
Up to 1,50,000 Nil NIL
1,50,000-2,50,000 10% 10,000
That means above 10000 will be deduct from their income
monthly.
opinion: to reduce the burden of paying a tax at a time
| Is This Answer Correct ? | 34 Yes | 51 No |
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