PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607

PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607

PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607

what is deferred tax asset or liability?
When it becomes deferred tax asset or liability?

I'M WORKING IN AN MNC AS AN A/C MGR.I NEED YOUR HELP IN GIVING ME SOME USABLE TIPS REGARDING THE WAY I'VE TO PREPARE FOR THE 2ND GROUP OF FINAL EXAM.

Hello,


I Have an Agriculture Land In Urban Area . I Sold this.

Before This I Was Earning Income From This Business I.e. (Agriculture Income ).

Now I Sold The Land With Trees
So What Would Be The Treatement of Proceed Of Trees Is This Is Agriculture Income Or Capital gain

Plz. Reply

Will i get the reference of any case law stating that stipend received by an article,and crosses basic exemption limit is not liable to tax & on the same TDS is not applicable.

i want to know exactly that can public provident fund account balance be attached with the income tax department recovery ?
hope 2 c the reply soon

Hello ,
I want to what are the consequenses of non filing of return on 30/9/2008 of an company assesse & a propritorship concern covered under tax audit. If the audit report is signed before the due date.
Till what date we can submitt it.

hello
I have some doubts regarding 100 hrs ITT . I belongs to Imphal, Manipur .Is it allowable to do 100 hrs ITT in
any of the regional centres of India irrespective of the place where I belongs or restricted to do in only EIRC and its
branches . ii) And if I opt to do in any other regional centres, will I have to take prior approval of the council(EIRC),
If so what are the procedures.

Thanks in advance