computataion of income tax on excell sheet in ITR-2

Share This Thread
  1. khannajk

    khannajk New Member

    After filling all the sheets in the ITR-2 ( excell ), when the request was made to compute tax the tax computed was 68184 on the taxable income of 740920 which i think is wrong
    740920 minus 3 lac (senior citizen) comes to 440920 the 10% comes to 44092
    that too without taking into consideration of sec 87

    Can anyone help me to find out the exact picture before i go for validating

  2. ZED

    ZED Well-Known Member

    68184 is correct.
    Upto 300,000 NIl
    Next 200,000 @ 10% -Tax 20,000
    Next 240920 @ [email protected] -Tax 48,184

    Total = 68,184
    Rebate u/s 87 is not available since the total income has exceeded 500,000.
Draft saved Draft deleted
Similar Threads Forum Date
Income Tax: Standard deduction: FY 2018-2019 Income Tax Thursday at 11:56 AM
Income tax Income Tax Feb 12, 2018
Income tax on tax payer Income Tax Feb 2, 2018
Income Tax on Severance pay and consulting fee Income Tax Jan 30, 2018
income tax Income Tax Jan 30, 2018