my pay is 2.04 lakhs per annum. i'm a male. how much ammout shud i pay as tax to the govt.?

Answer 1

Clarify
Your age
Residential status
Income from which year

For the AY 2006-07 for individual who is not a senior citizen the tax for 2.04 lakh will be 16116/-
For the AY 2006-07 for individual who is a senior citizen the tax for 2.04 lakh will be 3876

Following is the tax rate
For resident senior citizen (who is of 65 years or more at anytime during the previous year)
upto 185000 nil
185001 to 250000 20% of (TI-185000)+2% edu cess
250001 to 1000000 13000+30% of (TI- 250000)+2% edu cess
above 1000000 238000+30% of (TI- 1000000)+10% sc
+2% edu cess


For any other individual, every HUF/AOP/BOI/Artificial juridical person

upto 100000 nil
100000 to 150000 10%of (TI- 100000)+2% ec
150001 to 250000 5000+20% of (TI-150000)+2% ec
250001 to 1000000 25000+30% of(TI- 250000)+2%ec
above 1000000 250000+30% of (TI-1000000)+10% sc+2%ec

Answer 2

You tax liability will be Rs.16116/- if you are not a senior citizen.

If you are a senior citizen then it will be Rs.3876/-

Answer 3

33%

Answer 4

20% OF YOUR PAY