CALCULATION OF INCOME TAX AN EMPLOYEE BELOW 60 AGE A.Y.2018-19
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 v) Rs. 1,10,00,000/- (B) What will be the amount of TDS in case of above employees, if PAN is not submitted by them to their DDOs/Offices: Particulars Rupees Rupees Rupees Rupees Rupees (i) (ii) (iii) (iv) (v) Gross Salary Income (including allowances) 2,50,000 4,00,000 10,00,000 55,00,000 1,10,00,000 Contribution of G.P.F. 45,000 50,000 1,00,000 1,00,000 1,00,000 Computation of Total Income and tax payable thereon Particulars Rupees Rupees Rupees Rupees Rupees (i) (ii) (iii) (iv) (v) Gross Salary 2,50,000 4,00,000 10,00,000 55,00,000 1,10,00,000 Less: Deduction U/s 80C 45,000 50,000 1,00,000 1,00,000 1,00...