CALCULATION OF INCOME TAX IF A PERSON HAVING AGRICULTURE INCOME AND SALLARY/OTHER INCOME BOTH.
DETAIL:-
IF A HAS AGRICULTURE INCOME RS 100000/-AND OTHER INCOME RS 500000/- TOTAL INCOME RS 600000/-
CALCULATION TOTAL INCOME RS 600000/-
LESS EXCEMPTION RS 250000/-
BALANCE INCOME RS 350000/-
INCOME TAX 250000 TO 500000 10% RS 25000/-
500000 TO 600000 20%RS 20000/-
TOTAL INCOME TAX RS 45000/-
LESS AGRICUTURE INCOME EXCEMPTED 100000/- 10% I.E RS 10000
TOTAL INCOME TAX PAYABLE RS45000
LESS EXCEMTED RS10000/-
FINAL INCOME TAX PAYABLE RS 35000-
ADD 3% SURCHARGE 1050/-
TOTAL PAYABLE RS 36050/-
DETAIL:-
IF A HAS AGRICULTURE INCOME RS 100000/-AND OTHER INCOME RS 500000/- TOTAL INCOME RS 600000/-
CALCULATION TOTAL INCOME RS 600000/-
LESS EXCEMPTION RS 250000/-
BALANCE INCOME RS 350000/-
INCOME TAX 250000 TO 500000 10% RS 25000/-
500000 TO 600000 20%RS 20000/-
TOTAL INCOME TAX RS 45000/-
LESS AGRICUTURE INCOME EXCEMPTED 100000/- 10% I.E RS 10000
TOTAL INCOME TAX PAYABLE RS45000
LESS EXCEMTED RS10000/-
FINAL INCOME TAX PAYABLE RS 35000-
ADD 3% SURCHARGE 1050/-
TOTAL PAYABLE RS 36050/-