Computation of Tax

The following is a short performa of computation of tax:

1. Compute Tax on long term Capital Gain @ 10% or 20%                      xx

2. Compute Tax on winning from lotterries, crossword

Puzzles, races ,etc                                                                               xx

 

3.  Compute Tax on other income at normal rates                                      xx

                                                            Total Tax                                    xx

Less: Rebate / Relief                                                                                   x

                                                                                                                xx

Add: Surcharge (If applicable @ 10%)                                          x 

                                                                                                                xx

Add: Education Cess @ 2% + 1%                                                             x 

                                                                                                                xx

Less: 1. TDS                            xx

          2. Advance tax               xx                                                             xx

                                                                        Net Tax Liability              x

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