12-25-2009, 11:34 PM
Mr. Naseer Annual salary year 2008-09 ...... 13,47,969/=
Tax on salary income @11% ................. 1,48,276.6/=
where an employer agrees to pay the tax chargeable on an employees salary, the amount of the employees income chargeable under the head "Salary" shall be grossed up by the amount of tax payable by the employer.
So, now Mr. naseer taxable income is ........ 14,96,246/=
Tax on taxable income @12.5% ................ 1,87,030.7/=
therefore employeer paid to Mr. Naseer .... 13,47,969/-
and tax paid by employer on behalf of employee.. 1,87,031/-
Total salary + Tax paid by employer .... 15,35,000/-
Tax on salary income @11% ................. 1,48,276.6/=
where an employer agrees to pay the tax chargeable on an employees salary, the amount of the employees income chargeable under the head "Salary" shall be grossed up by the amount of tax payable by the employer.
So, now Mr. naseer taxable income is ........ 14,96,246/=
Tax on taxable income @12.5% ................ 1,87,030.7/=
therefore employeer paid to Mr. Naseer .... 13,47,969/-
and tax paid by employer on behalf of employee.. 1,87,031/-
Total salary + Tax paid by employer .... 15,35,000/-
