tax calculation

Hi Pankaj, i want to invest approx 40 lakhs in SBI bonds, for 15yrs @9.97%, I want to know how much do i have to pay in tax, to calculate my returns on bonds.I have no other taxable income.

Thanks MISS HEMA GUPTA

asked Aug 08 '11 at 17:43 by hema 1111


Whole interest will be added to your taxable income and taxed as per current slab rates.

Lets say, you earn 4 lacs in 2011-12 from interest, then this will be your taxable income. You may get deductions by investing under sections like 80-c, 80-d etc. After that whatever amount is left, income tax rates will apply. Say, 0% income tax on first 1.90 lacs and 10% income tax on next 3.1 lacs. Click here to check income tax slab rates.

answered Aug 08 '11 at 21:56 by pankaj 5.2k320

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Asked: Aug 08 '11 at 17:43

Seen: 1,303 times

Last updated: Aug 08 '11 at 21:56