If you think that calculating taxable income is a big thing, then you are wrong. It is simple the only thing you need to know is about the deductions and exemptions you are claiming for and the relevant sections. However, one must take the help of a chartered accountant or a financial advisor in doing so in wholly owned subsidiary in India
The salary received by an employee is taxed under the head income from salary. The computation of tax is done mainly on the gross salaried person in company incorporation in India.
It is necessary for every individual to understand the basic calculation for computing income tax. Suppose, somebody is earing an annual salary income of Rs. 11 lakh and has done the following investments In the financial year.
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