Computation of total income & tax.
This query is : Resolved
06 January 2012
INCOME FROM BUSINESS & PROFESSION-100000p.a.
INCOME FROM SALARY -200000p.a.
AGREE CULTURE INCOME -80000p.a.
A.Y. - 2012-2013.
INCOME FROM SALARY -200000p.a.
AGREE CULTURE INCOME -80000p.a.
A.Y. - 2012-2013.
06 January 2012
Gross Total Income 300000
Deductions : NIL
Total Income : 300000
Add: Agriculture Income: 80000
Total Income for Rate Purpose : 380000
.
Tax on T.I for Rate Purpose
(Male)......................:20000 Less: tax on Agriculture Income
(180000+80000=260000) :8000
.
Net Tax Payable : 12000
Add: Educational cess : 360
Total Tax Payable : 12360.
Deductions : NIL
Total Income : 300000
Add: Agriculture Income: 80000
Total Income for Rate Purpose : 380000
.
Tax on T.I for Rate Purpose
(Male)......................:20000 Less: tax on Agriculture Income
(180000+80000=260000) :8000
.
Net Tax Payable : 12000
Add: Educational cess : 360
Total Tax Payable : 12360.
10 February 2012
Thank you sir, For solve this question.
BUT, Sir I have one question this question matter.
Agree culture Income is add in salary then
Less "8000" then add in "B & P".After add education cess.That is total Income.
Please answer this matter.
BUT, Sir I have one question this question matter.
Agree culture Income is add in salary then
Less "8000" then add in "B & P".After add education cess.That is total Income.
Please answer this matter.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
