How to calculate Income tax ? Need a shot guide

[Asked by Guest]

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.

AI Summary

Income tax calculation: clarify whether tax applies to gross earnings or post-deduction pay, and role of financial year.
Whether income tax is computed on total earnings or on the post-deduction amount is the central question: the enquirer provides gross and net-payable figures after PF and PT deductions and asks which sum is subject to tax; the replies note that specifying the financial year is essential to answer.