Deduction for incoem from diff sources
This query is : Resolved
Umar Farooq
(Querist)
20 June 2012
My income for the year is Rs 450000/ out of which Rs 200000/ is rental income 200000 is from technical services and 50000 is out of commision , which form is required to fill and how can i claim expensis for each category, how shall i calculate my tax liability ,Thanks in anticipation
CA Kalpesh Gokani
(Expert)
20 June 2012
from rental income u can claim first house texes, from the balance u can deduct 30% standar deduction and interest on housing loan if any.
from technical services and commission income u can claim expenses directly incurred for providing the same.
combine all this income after deduction and calculate tax liability as per slab rates as applicable.
from technical services and commission income u can claim expenses directly incurred for providing the same.
combine all this income after deduction and calculate tax liability as per slab rates as applicable.
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