what is the tax to be paid for an income of 170000 in india?

Question

For a person with Rs.170000 as taxable income. How much tax to be paid

Answer 1

Clarify
Residential Status
Age
Gender
Type of business if any
Source of business

If you don't have any other income or any investment then following are the net tax payable including surcharge and education cess.

For Resident female for AY 2006-07 Rs 5610/-
For Resident Senior citizen for AY 2006-07 Rs 0
For Any other for AY 2006-07 Rs 9180/-

Answer 2

For the Assessment year 2007-08, for a "net taxable income" of Rs.170,000, the tax liability would be:

1. For resident female individual: Rs.5,610 with Rs.110 as Education Cess

2. For resident Senior Citizen individual: Rs. 0

3.Any other individual: Rs. 9,180 with Rs.180 as Education Cess

Answer 3

If you are a male then an income upto Rs.100,000.00 is exempted
If you are a female then an income upto Rs.135,000.00 is exempted

You will pay 20% tax for the remaining amount.

Hence it will be 70000 X 20% or 35000 X 20%

Answer 4

You should have specify income under which head .
Assuming it to be under head other than capital gains & winning from lottery your tax liablity will be(Assumed to be women)
Taxable income =Rs.170000
Tax @ =5500
[1500+(170000-150000)*20%]

Answer 5

For Rs 1,70,000 income, U have to pay Rs 34,000 as Income Tax.
Normally for the amounts Rs 1.5 lakh to Rs 2.5 lakh , IT is 20% .

Answer 6

for ladies, upto 135000 is tax free. tax on the additional rs 35000 at 20 % works out to rs 7000.
but there are many investments, by which you can save taxes.
i can email more details if you want.

Answer 7

40% of the total income.

Answer 8

u need to mention ur age and gender