Kotaro Takeuchi:
SI. No. | Particulars | Total Income | Tax Free Income | Taxable Income
1 | Salary | 115,979 | 115,979
2 | House Rent Allowance | 30,203 | 25,000 | 5,203
3 | Conveyance Allowance | 3,020 | 2,500 | 520
4 | Medical Allowance | 2,416 | 2,416
151,618 | 29,916 | 121,702
Yearly Taxable Income (121,702*12) | 1,460,424
Total Income | Income Tax Slub | Percentage | Income Tax
1460424 | 300,000 | 0 | 0
100,000 | 5% | 5,000
300,000 | 10% | 30,000
400,000 | 15% | 60,000
360,424 | 20% | 72,085
1,460,424 | 167,085
If Taxable Imcome 1,460,424 Tax will be 167,085
If Taxable Imcome 121,702 TDS will be 13,924 | (Deduction from Every Month Salary)