How to calculate TAX on income of 450000 per annum for current financial year 2008-2009?

Tax Calcu. for MALE -Tax free Amt. Rs.150000 :FY:08-09

450,000 = Gross Total income (Regular)
000,000 = LESS: Deductions U/Chapter IV-A (80C Etc.,)
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450,000 = Net income -To be taxed @ slab rates
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000,000 = TAX @ 0% Income Exempt from Tax on 150,000
015,000 = Tax @10% between 1.5 to 3.0 lakhs on 150,000
030,000 = Tax @20% between 3 to 5 Lakhs on 150,000
000,000 = Tax @30% on >5 lakhs on Rs.000,000
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045,000 = Tax Payable on Net Income 450,000
001,350 = ADD: Education cess @ 3% on tax. 45,000
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046,350 = Net Total Tax Payable.
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If you really make that kind of money, you would not be asking for financial advice here!!!

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