house property

This query is : Resolved

$AcH!n G (Querist)
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23 September 2008 I'M A SENIOR CITIZEN.
I'VE FOLLOWING INCOMES:

HOUSE PROPERTY LOSS ( 1,18,000)
LONG TERM CAPITAL GAIN 1,30,00,000
(FROM SALE OF HOUSE)
BUSSINES LOSS (2,00,000)
BANK INTEREST 1,00,000
1,27,82,000
LESS: DEDUCTION U\S 80C 1,00,000
1,26,82,000

WHAT AMT OF TAX I AM LIABLE TO PAY ?
@20% FLAT RATE OR AFTER GIVING EXEMPTION OF RS.1,10,000.

CA Pawan Goswami

CA Pawan Goswami (Expert)
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17 November 2008 You have to pay Rs. 2829554

Total Income = 12682000

Tax = 2497400
(20% on Rs.12487000 i.e,12682000-195000)

Add:- Surcharge = 249740

Add:- Edu. and S,H,E, Cess
(3% on 2747140) = 82414

Total Tax Payable = 2829554

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