hai friends,,
i just need a clarification on lic,,
can i show my parents lic account for tax saving including mine account also...
could any of u brief this to me...
and my taxable income is 1,50,000.. wat is the tax amount for me this year...
best regards,
K.Murugan

From India, Madras
Murugan
On taxable salary of Rs.150000/- tax wil be 4120/-p.a as upto Rs.110000/- there is no tax however find below the tax slab for current FY
upto110000 - NIL
110-150lac - 10%
150-250lac - 20%
more than250-30%
Add: 3% Cess. = Final tax liability
Rgds,
shiva

From India, Pune
Dear Murugan, A simplified tax computation and investment statement is attached for your reference. See if this helps you. Regards Bharathi
Attached Files (Download Requires Membership)
File Type: doc ref_for_it_plan_fy_134.doc (40.0 KB, 110 views)

Dear Frends, Can any1 mail me the basics of Tax Computation. I m payroll management. But the tax computation is done by our Finance Division. Need to learn about it. Regards, Sumit
From India, Mumbai
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