How to calculate tax
This query is : Resolved
24 September 2009
How to calculate tax when there is agriculture income of Rs. 1000000 and taxable income Rs. 1258920/-?
The assessee is Individual
Plz expalin in detail
The assessee is Individual
Plz expalin in detail
Ratan Sharma
(Expert)
25 September 2009
1. Calculate tax on taxable income + agriculture income
2. Calculate tax on agriculture income + basic exemption limit.
3. Deduct 1 -2 ( as calculate above )
4. Result will be tax payable
1. Calculate tax on taxable income + agriculture income
2. Calculate tax on agriculture income + basic exemption limit.
3. Deduct 1 -2 ( as calculate above )
4. Result will be tax payable
CA.Nikhil Gupta
(Expert)
25 September 2009
agree
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