Computation of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2012
Dear Sir
I am a partner in partnership firm with my brother firm profit 10,00,000/- out of which my brother shows my salary for FY Rs. 350,000/-, Bank Int 25000/-, income from other source 25000/-, Rent paid Rs. 40000/- during the Year, Insurance Premium Rs. 77500/-, Medical policy premium 3500/- Advance Tax Paid Rs. 10000/-
Can I claim HRA Deduction Fro My salary Which is receive from my partner ship Firm,
What is maximum Limit?
Please Calculate my Tax Liability?
I am a partner in partnership firm with my brother firm profit 10,00,000/- out of which my brother shows my salary for FY Rs. 350,000/-, Bank Int 25000/-, income from other source 25000/-, Rent paid Rs. 40000/- during the Year, Insurance Premium Rs. 77500/-, Medical policy premium 3500/- Advance Tax Paid Rs. 10000/-
Can I claim HRA Deduction Fro My salary Which is receive from my partner ship Firm,
What is maximum Limit?
Please Calculate my Tax Liability?
24 September 2012
salary to partner is business income. You may claim 80GG instead of HRA 10(13A)
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