som
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somParticipant
Here is the excel file
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somParticipantHere is the PDF file
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February 3, 2021 at 5:55 pm in reply to: Lite version of Income tax Calculator FY 2020-21 for Ubuntu users #83335somParticipantHere is an update of the file
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somParticipanttutorial of the utility
https://www.youtube.com/watch?v=suMFs_c7okwsomParticipantyes, you are right, i
I shall make necessary changes in the new calculator.________________________________________________________________________________________________________________________________________________________
(a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).(b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.
(c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.
______________________________________________________________________________________________________________________________________somParticipantDifference between straight and break up calculation of Education cess is very marginal and ignorable.
somParticipantJust fill the personal data carefully.
somParticipantWhat do you mean by Trans. All? Please let me know the details of the exemption and how do you want to show it. It will be a good help to me if you kindly send me a sheet showing the details of the same. I shall make necessary changes to the new utility which I shall prepare for the financial year 2015-16 after acceptance of the Union Budget.
somParticipant3% cess has been separated in two slab. Firstly deducted 2% as education cess and there after 1% as SHEC and I think it is the correct procedure. If the whole amount is deducted with 3%, you will get a different figure which is very marginal and the same is always ignorable as the income tax department doesn’t care the marginal amounts upto rupees 100.
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