Hi all ,
I want to know how income tax is calculated. Suppose that my total earnings are 23300/- per month (annual- 279600) and suppose Net Payable after all cutting (PF and PT ) is 22000/- per month (annual- 264000). So How should i calculate tax ?? On what amount tax is applicable i.e. Net payable or total earnings ??
Can any one please guide me ? Or please give me proper link where i can clear all my doubts about this.
Clarification Sought on Calculating Income Tax: Total Earnings vs. Net Payable Income with Financial Year Considerations A user seeks guidance on calculating income tax, questioning whether tax should be calculated on total earnings or net payable income. The user provides monthly and annual figures for both total earnings and net payable amounts. Two responses were received: one suggesting the user may have already found clarification, and the other indicating that knowing the financial year is crucial for an accurate response. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
