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SANYAM ARORA (“It's hard to beat a person who never gives up.”)   (20168 Points)

07 January 2011  
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp
New Delhi:  The government today rejected outright the report that established the 2G spectrum scam as India's largest con-job, and left the government vulnerable to a particularly ferocious attack by the Opposition.

The report by the government's auditor, the Comptroller and Auditor General (CAG), said losses from the allocation of 2Gspectrum in 2008 could add upto Rs. 1.76 lakh crore.  The report pushed A Raja to resign as Telecom Minister in November. (Read: What is 2G spectrum scam?)

Kapil Sibal, who replaced Raja, described the CAG report today as "completely erroneous".  While adding that he respects the CAG, Mr Sibal said, "We believe the exercise (by CAG) was fraught with very serious errors which resulted in a kind of sensationalism
which has allowed the Opposition to spread utter falsehood to the people of India and we object to it."



Read more at: https://www.ndtv.com/article/india/2g-scam-cag-s-rs-1-76-lakh-crore-figure-is-completely-erroneous-says-sibal-77798?cp

 

Enter data in only shaded boxes.
Click on any "Calculate" button to carry out all calculations.

A

Calculation of Income from Salary
1 Total Salary and / or Pension as per Form 16
( Excluding all exempt/ non-exemptallowances, perquisites & profit in lieu of salary )
2 Allowances Exempt under Section 10 ( Click for Exempt Incomes & Allowances under Section 10 )
( Will not be added to the Total Income from Salary chargeable to Income Tax )
3 Add : Allowances not exempt ( Use Taxable HRA Amount Calculator )
4 Add : Value of Perquisites and / or Fringe Benefits ( Use Perquisite Value Calculator )
5 Add : Profits in lieu of Salary
Total Income from Salary chargeable to Income Tax (1-2+3+4+5)

B

Calculation of Income from House Property
1 Annual Lettable Value or Rent Received or Receivable
2 (i) Taxable Amount of Rent
2 (ii) Taxes paid to Local Authorities ('0', If self occupied)
3 Taxable amount of Rent Received / Realized{70% of (1 - 2 - 3)]
4 Interest payable on borrowed capital
Income from House Property chargeable to Income Tax (3 - 4)

C

Calculation of Income from Capital Gains (Short Term + Long Term)
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Capital Gains (1 + 2)

D

Calculation of Income from Other Sources viz. Interest, Dividend etc.
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Other Sources
Details of Income Tax at Special Rate included in C and D above:
  Amount Rate Income Tax
1.
2.
3.
Total

E

Agricultural Income for Rate Purpose only

F

Aggregate Income

G

Calculation of Deductions from Taxable Income
1 Deductions under Sec. 80C, 80CCC & 80CCD. (Other than Infrastructure Bonds)
(Max. Rs. 1 lakh For details Click Here
Infrastructure Bonds (Max. Rs. 20,000 in addition to Rs. 1 lac)
Total Deduction eligible under Sec. 80C, 80CCC & 80CCD
2 Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others). For details Click Here
3 Deductions under Sec. 80D for Health Insurance of parents. (Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-).
4 Deductions under Sec. 80DD. Max. Rs. 1 lac. For details Click Here
5 Deductions under Sec. 80DDB. Max. Rs. 40,000/-. For details Click Here
6 Deductions under Sec. 80E. For details Click Here
7 Deductions under Sec. 80G. For details Click Here
8 Deductions under Sec. 80GG. For details Click Here
9 Deductions under Sec. 80U. For details Click Here
10 Deductions under Sec. 80RRB. For details Click Here
11 Any other eligible deduction
12 Total Deductions from Taxable Income
Total Taxable Income

H

TDS / Advance Tax Deposited, if any

I

Calculation of Taxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income
Descripttion Income Income Tax
Exempt Income
Income chargeable at 10%
Income chargeable at 20%
Income chargeable at 30%
Income chargeable at Special Rates
Total
Less : Income Tax on Agricultural Income included above
Income Tax Payable
Education Cess @ 3% of Income Tax Payable
Total Tax liability
Less: TDS / Advance Tax deposited
Net Income Tax due
Income Net of Income Tax Liability
To Calculate Advance Tax, please Click Here
To calculate interest under Section 234 A, B and C, please Click Here