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Annually TAX Calculation Total Annual Taxable Income for the Year Tax Rate for the Year Total Tax payable for the Tax year AFTER MARGINAL TAX RELIEF Amount on the maximum of the slab Tax payable on the maximum of the slab marginal increase maximum of the slab Rate of Marginal Relief % Tax Payable on Marginal relief Total Tax Payable
2.50
Withholding Adjustment For the Y Tax Deducted by Employer On telephone bill Along with motor vehicle Tax On cash withdrawals from banks On registration of new Car/Jeep Tax Calculation For Motor Vehicle Usage of Motor Vehicle Cost of Motor Vehicle Vehicle used by employee from 2 Only Private Use 1 Value of Motor Vehicle
July, 2010
18900
0 0 0 0
This amount shell be added employee's taxable income Tax Calculation For Interest Free Loan Loan Amount
5%
18900
5% July, 2010
5 1
IF Yes
Tax Calculation for services of a housekeeper, driver, gar or other domestic assistant. from from from
July, 2010 1 July, 2010 1 July, 2010 1
11 12 13
Housekeeper from July, 2010 1 14 This amount shell be added employee's taxable income
Credit 0 0 0 0
Salary means any amount received by an employee from any employment, whether of a r capital nature, including (a) any pay, wages or other remuneration provided to an employee, including leave pay, p Teacher / Researcher lieu of leave, overtime payment, bonus, commission, fees, gratuity or work Others condition supplements (such as for unpleasant or dangerous working conditions); (b) any perquisite, whether convertible to money or not; (c) the amount of any allowance provided by an employer to an employee including a cos subsistence, rent, utilities, education, entertainment or travel allowance, but shall not include any allowance solely expended in the performance of the employees duties of em (d) the amount of any expenditure incurred by an employee that is paid or reimbursed by employer, other than expenditure incurred on behalf of the employer in the performance o employees duties of employment;
Motor Vehicle
Use
If Yes
10%
tor Vehicle
FALSE 1 to
December, 2010
Office & Private Use Only Private Use 6 6 Value of rent Monthly Motor Vehicle paid by employer
1% July, 2010 2% August, 2010 3% September, 2010 4% October, 2010 5% November, 2010 6% December, 2010 7% January, 2011
, 2010
ncome
IF Yes
0 FALSE 0
11% 0
0 0
0 0
8% February, 2011 9% March, 2011 10% April, 2011 Housekeeper Driver 11% May, 2011 June, 2011
FALSE 12 12 12 12
12 12 12 12 0
0 Gardner 0 Other 0 0 0
ncome
ther of a revenue or
);
ding a cost of living, all not ties of employment; bursed by the ormance of the
Marginal Relief
Rate Amount
20 30 40 50 60
550000 Upto 1050000 Upto 2250000 Upto 4550000 Upto 4550000 Exceed