Calculation of Tax Liability?

[PNayak]

Hi, Could you please calculate the Tax Liability as per the below data -
Annual salary package of Rs. 200000.
HRA = Rs. 3500/-
Medical Insurance by company = Rs. 13000/-
Investment in ULIP = Rs. 15000/-

Kindly calculate the tax liability.

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[Taxman]

Basic salary + HRA + Medical Insurence = 200000 + 3500 + 13000 = 216500
Less HRA 3500 = 213000
Less ULIP = 15000 ( 80C) 198000

Tax on above 13600 Plus Education cess 408
Total = 14008

[CA_Amit]

To calculate your tax liability, you should provide following data in details :
1. Exemption of HRA is available subject to condition that you are residing in a rented house. So, if you are residing in a rented house, than the total rent paid during the year.
2. If you have paid/ employer has deducted the employment tax (popularly known as "Professional Tax"), the amount thereof? (The professional tax qualifies for deduction from Salary U/s 16(iii)).
3. If you are regular employee, the employer would be deducting the GPF. so the amount thereof? (The contribution by you to GPF qualifies for deduction U/s 80C).

So, for computaion of correct tax liability, provide the above data.

[PNayak]

Thanks Taxman and CA Amit. The HRA amount I have provided after checking with my Finance Department so no need to recalculate again. Anyway thanks for your reply.