How and where to include petrol expense?



Pls help me how to compute the income tax .
It will be helpful if some one can show me steps to calculate tax

Following are the details
Sex: Woman
Salary 3.6 lacs/annum
Savings
8000 LIC
10000 -reliance insurance
8000 -pf
6000 -medical bills
Petrol bills – 10,000

1 ) Under what section pertol expence are included and upto what amount I can submit the bills ?

How and where to include petrol expense?
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2 Replies to “How and where to include petrol expense?”


  1. 3,60,000 Your salary
    0,26,000 less savings u/s80c (lic 8000+RIL Insu. 10000+ PF 8000)
    ————-
    3,34,000 Net taxable amount.
    =======

    Tax Calculation:
    00,500 Tax @10% between 1,45,000 to 1,50,000 (on 5,000)
    20,000 Tax @20% between 1,50,000 to 2,50,000 (On 1 lakh)
    25,200 Tax @30% between 2,50,000 & Above (On 84,000)
    ———-
    45,700 Tax due before Education cess
    01,371 Education cess @3% on Tax Rs.45,700
    ———-
    47,071 Net tax payable by you.

    Note: Your petrol expenses and medical bills are not treated as expenses or deductions for the purpose of Income Tax (Salary).

    Tax exemptions/Tax free limits for FY:2007-08 (AY:2008-09)
    HUF—————- Rs.1,10,000
    Male <65 years Rs. 1,10,000
    Female <65Yrs. Rs.1,45,000
    Seniour Citizen. Rs.1,95,000 (Male or Female >65 years)





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