Social Scientist. v 7, no. 76 (Nov 1978) p. Back material.


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Your Income Tax! HOW TO CALCULATE 7

The Rate Schedule below may help you, if your status Is ^ . INDIVIDUAL OR HUF*

RATES OF INCOME TAX FOR 1978-79 ASSESSMENT AND OF ADVANCE TAX PAYABLE DURING THE FINANCIAL YEAR 1978-79.

rTotal incFrom ^^ ;ome slabA'1 ^E-To^ty ^-^ ^ Tax pa HUE (ea--- -Fixed am for the sl yabl< xcep^«' -.ount ab Q for e t thos2. Plus very individual. eas per col. 3)•^ * •yrVarial^l'e amount as under Tax paya at least o ncome e^ixed am for the sl b(e ne r xceeoun ab for eve Tiembc sds Rs3. t Plus ^ sry HUE having j 5r whose tetali 1 . 10.000 ^»»Variable ^ amount as ^under A^

UptolO. 000 NIL ^ •^ NIL ^.,

10,001 15,000 NSL Plus 15% exceeding NIL 'd Plus 18% exceeding

Rs. 8.000* ^ Rs. 8.000^

15,001 20.000 1.050 Plus 18% exceeding 1.260 Plus 25%exceedin9

^ Rs 15 000 .. Rs. 15.000

20.001 25.000 1.950 irC Plus 25% exceeding 2.510 Plus 30% exceeding

^ Rs 20.000 , Rs. 20,000

25.001 30,000 3,200 ^ ((. Plus 30% exceeding 4.010 Plus 40% exceeding

ilih Rs 25.000 Rs. 25.000

30.001 50.000 4.700 W Plus 40% exceeding 6.010 Plus 50% exceeding

Rs. 30.000 Rs. 30.000

50.001 70,000 12.700 ?j Plus 50% exceeding 16.010 Plus 55% exceeding

't ^ Rs. 50,000 '1 Rs. 50,000"

70.000 1,00.000 22.700 Plus 55% exceeding 27,010 Plus 60% exceeding

f} Rs. 70.000 Rs. 70,000 ,,

4C^

1 00.001 and more 39.200 Plus 60% exceeding ^ ^ t- ^

Rs. 1.00.000 A

SURCHARGE • IN ADDITION to the Income-tax payable at the above rates, a surcharge ^"

equal to 15% of the income-tax is also payable , h ^ * provided that in case where total Income does not exceed Rs. 10,540, the Income-tax • ^ ^ payable shall not exceed 70% of the total Income exceeding Rs. 10.000 ^ ** provided that in case where total income.does not exceed Rs. 10.690, the income-tax ^ payable will not exceed 70% of the total income exceeding Rs. 10.000 ^A |

L

calculate taxes correctly—pay promptly

Issued by: ^ DIRECTOR OF INSPECTION ' (Research, Statistics 8 Publication) INCOME-TAX DEPARTMENT

New Delhi-110001. ^_____________davp 78/i8



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