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.
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