Dear Sir, If taxebale income is 1424066/- and i have 80c - Rs. 100000/- and 80D is 15000/-?

Can i get the exact tax computation for the FY 2007-08. I am not a Senior citizen not a women. there is any exception is sircharge for the crrent FY (in tax computation).

Gross Total Income = 1424066
Less Deduction U/s 80C = 100000
Deduction U/s 80D = 15000

Net Income = 1309066

Income Tax

Upto 1,10,000 - Nil
1,10,000 to 1,50,000 - 10% - 4000
1,50,000 to 2,50,000 - 20% - 20000
2,50,000 & above - 30% - 317720

total income tax = 341720
Add Surcharge @ 10% = 34172
Add Education Cess @ 3% = 11277

Total Income Tax Liab. = Rs.387169.00

no

Consult a CA pls.

Hello sir u Rs. 14,24,066.00 income per year, I briefly inform you Rs. 1,10,000 is exemption 1,10,001 to 1,50,000 is 10% 1,50,001 to 2,50,000 is 20% & 2,50,00 above is 30%.
U have now taxable amount is Rs.3,76,220 less u/s 80c Rs.1,00,000 now the Final tax is 2,76,220

your tax liability is app 3,70,000. you are earning a good amount, by gods grace and your efforts, why cant u pay a ca and get correct and professional advise instead of asking amateurs at yahoo answer. why should a ca give correct and to the point answer on yahoo without charging his fees. better get hold of a ca and pay taxes and file your return accordingly.

Your Gross Total Income is Rs. 1424066 .00
Less: Deduction for 80D 15000.00
Deduction for 80D 100000.00

Net taxable income 1309070.00

Tax on first 0 to 110000.00 Nil
On next 110001 to 150000.00 4000.00
On next 150001 to 250000.00 20000.00
On above 250001 317721.00

Total Tax 341721.00
Surcharge on Tax 34172.00
Education Cess 11277.00

Total Tax payable for FY 2007-08 387170.00

Thanks