QUOTE::::::"For individuals whose total income does not exceed Rs.1,
The tax rate is nil.
If the total income does not exceed Rs.1,50,000/-.
10% of amount by which the total income exceeds Rs.
1,50,000/- If the total income exceeds Rs.3,00,000/- but does not exceed Rs.5,00,000/- then Rs.
15,000/- 20% of the amount by which the total income exceeds Rs.3,00,000/-.
If the total income exceeds Rs.5,00,000/-,
55,000/- 30% of the amount by which the total income exceeds Rs.5,00,000/-.
The amount of income tax as computed in accordance with above rates,
and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 10% of such income tax,
provided that the total income exceeds Rs.
in case of individuals/HUFs no surcharge shall be payable if the total income is below Rs.10 lacs.
The tax and surcharge,
are to be further enhanced by education cess levied @ 3% from A.
i agree with this
hope he helped