Income tax calculation

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mohd amir (Querist)
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22 July 2016 Dear Sir
Pls tell me for the F.Y. 2015-16:
My salary 3 lac annual , there is no Hra , pf & bonus
Interest Income from bank saving bank account :- 26805/-
dividend :- 304/-
Short term capital gain : 5518/-
total income : 332627/-
deduction u/s 80 c : 12130/-
deduction u/s 80 TTA (interest from Saving Bank Account ) :- 1805/-
net income : 318692/-
tax liability on 318692/- should be (318692-5518=313174= 63174*10%= 6317/- + 5518*15% (stcg) : 7144+ ed cess
u/s 87A deduction available to me Rs 2000/-
so the net tax liability would be : 5144/-+ ed cess

My question is taht I have to deposit any tax ?
& u/s 87A how much rebate I can claim?
when I am filling the income tax (ITR2) return the excel utility of income tax deptt computed nil tax liability
pls solve this.

Amol S Joglekar

Amol S Joglekar (Expert)
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22 July 2016 No, that can not be....please check the figures you entered in itr2......there seems to be some error in feeding the figure in itr, please recheck the same

Amol S Joglekar

Amol S Joglekar (Expert)
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22 July 2016 where did you show the short term capital gain?

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