my salery is 144000 per annul how much incometax i need to pay i am realy confuse about it?



my co deduct some ammount from salery asa incometax
i realy dont no what to do

my salery is 144000 per annul how much incometax i need to pay i am realy confuse about it?
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5 Replies to “my salery is 144000 per annul how much incometax i need to pay i am realy confuse about it?”

  1. Your Income is Rs. 144,000/- but dear you need to tell the exact structure of your pay (break up of your salary) to help me calculate your income tax. Also tell me if you have made any tax saving investment during the year.

    At Rs.144,000 your tax liability comes at Rs.4488/-. If tax deducted from your salary is more than it then get the accountant of your company by collar.

    For more contact me at 9868977212 or [email protected]
    I can even help you get refund of your Income Tax Deducted



  2. Your company could be deducting Profession Tax & or TDS from your salary. There could also be provident fund, ESIC etc.deductions if you have such provisions.Such tax can be reduced from your total liability while filing your returns.Is salary your only source of income?Pls consult a qualified person for better understanding & who can help you with filing your returns.


  3. Income-tax on Rs. 144,000 (Including Surcharge & Education cess) is Rs. 4,488/- based on the Calculation assuming the income is for Assessment Year 2006-07 (Financial Year 2005-06) and for a resident male. For a resident female it works out to Rs.918

    But you can claim exemption if you have deposited any amount in PPF, PF, Mutual Funds (notified for exemption), LIC premium, etc. which can be claimed as exemption under section 80 C of the IT Act (2006). Give the total figures of all your investments referred to above or talk to a CA.

    The tax figure is on assumption that you do not have any other income.


  4. If you are a male, your exemption limit is Rs 1 Lakh. Therefore, without availing for any deduction benefits, such as PPF, ELSS, Insurance, etc, your tax liability is only on Rs 44,000/-

    The tax for Rs 44,000 at 10% is Rs 4400/-. Additionally there is the cess etc.

    If you are a male, your exemption limit is Rs 1 Lakh. If you are availing for any deduction benefits, such as PPF, ELSS, Insurance, etc, your tax liability is only on Rs 44,000/- – ur deduction amount.

    In this case, if you contribute say Rs 44K to PPF, your tax liability is

    Rs 44,000 – Rs 44K = 0. Hence no tax if you contribute 44 K to PPF/ELSS, etc

    If you are a female, your exemption limit is Rs 1.35 Lakh. Therefore, without availing for any deduction benefits, such as PPF, ELSS, Insurance, etc, your tax liability is only on Rs 9,000/-

    The tax for Rs 9,000 at 10% is Rs 900/-. Additionally there is the cess etc.

    If you are a female, your exemption limit is Rs 1.35 Lakh. If you are availing for any deduction benefits, such as PPF, ELSS, Insurance, etc, your tax liability is only on Rs 9,000/- – ur deduction amount.

    In this case, if you contribute say Rs 9K to PPF, your tax liability is

    Rs 44,000 – Rs 9K = 0. Hence no tax if you contribute 44 K to PPF/ELSS, etc





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