Computation of net taxable income
This query is : Resolved
10 January 2013
HOW TO COMPUTE NET TAXABLE INCOME
IF:
salary income = 2,00,000
Loss on H.PROPERTY =(2,00,000)
short-term CAP.GAIN = 2,00,000
DEDUCTION UNDER 80C =(1,00,000)
KINDLY SUGGEST ME
HOW TO COMPUTE NET TAXABLE INCOME
IF:
salary income = 2,00,000
Loss on H.PROPERTY =(2,00,000)
short-term CAP.GAIN = 2,00,000
DEDUCTION UNDER 80C =(1,00,000)
KINDLY SUGGEST ME
10 January 2013
1. Loss on House Property :
---------------------------
If it is in respect of let out property, it will be fully allowed. Otherwise limit of 1.50 lac has to be applied and to that extent only can be set off.
.
2.STCG:
------
STCG on Shares units etc U/s 111A:
-----------------------------------
Against this you can not claim 80C
.
In the absence of any such information -
200000-200000+200000-100000=100000 is the total Income.
.
---------------------------
If it is in respect of let out property, it will be fully allowed. Otherwise limit of 1.50 lac has to be applied and to that extent only can be set off.
.
2.STCG:
------
STCG on Shares units etc U/s 111A:
-----------------------------------
Against this you can not claim 80C
.
In the absence of any such information -
200000-200000+200000-100000=100000 is the total Income.
.
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10 January 2013
IS THAT AMOUNT TAXABLE ?
OR EXEMPTED AS PER I.T. TAX SLAB ?
IS THAT AMOUNT TAXABLE ?
OR EXEMPTED AS PER I.T. TAX SLAB ?
10 January 2013
This amount is not taxable in case of an individual assessee.
.
Please Para 1. and 2. carefully as calculation may change accordingly.
.
.
Please Para 1. and 2. carefully as calculation may change accordingly.
.
Message likes :
1 times
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