SELF ASSESSMENT TAX

(0021) income tax other than companies in CHALAN NO. ITNS 280 FORM

please tell me how to calculate self assesment tax on given amount of interest by bank FD.

suppose interest amount is rs. 2000/- then what would be income tax amount? and what would be education cess amount?

asked Jun 30 '11 at 12:44 by san6719 1111


@San,

Interest from FD will add in your taxable income and then apply slab rate on net taxable income to compute your self assessment tax. Further your have to compute education cess on your tax amount.

Total Tax liability = [ Tax (as per slab rate) + E.Cess ]

answered Jun 30 '11 at 14:01 by sagar 4012

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Asked: Jun 30 '11 at 12:44

Seen: 2,654 times

Last updated: Jun 30 '11 at 16:17