How much income tax should I pay if I get a salary of 16 lakhs with CTC ?
Rs 308750 if Your salary income is after claiming deductions (of section 80). Moreover, it is assumed that you don't have any other income over and above the salary you have mentioned.
Above tax is for salary received for year ended 31-Mar-2017
A gentle advice to show only those deductions which appear in your form 16 (tds certificate for salary). If you have any other deduction, make sure you have the scan copy of the same. You might require to submit the same if asked by Income tax processing cell
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