Mrs. suchi's salary is Rs. 32,250 per month exclusive of HRA .she donates rs. 12000 to prime minister's relief fund (100%exemption )She donates rs. 6000 to a school and gets a relief of 50%on this donation. She contributes rs.5000 per month towards her provident fund .She pays a quaterly premium of rs 2,500 towards her LIC policy and invests rs. 25000 in NSCs. If rs. 2,700 is the tax deducted each month from her salary for 11 months , find the tax deducted from her salary in the last month of the year.
2007-02-15 23:57:28 · 1 answers · asked by dimple 1 in Business & Finance ➔ Taxes ➔ India
Hi dimple
Her total salary comes to Rs.397,000 (32,250*12)
Deduction u/s 80C 95,000(60,000+10,000+25,000)
Deduction u/s 80G 15,000(12,000+3,000)
So total tax on income 33,252
Tax deducted in 11 months 29,700
Tax deductible in 12th month 3,552
2007-02-16 22:31:52 · answer #1 · answered by apurav a 3 · 2⤊ 0⤋