Incometax

This query is : Resolved

manohar nirne (Querist)
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02 September 2013 x- has HP income(net) 203000
x- has long term C. gain 424547
x- has SB 80TTA income 1408

x- paid LIC Sec 80C 99730

Please Please calculate tax in details.
whether can 80c adjusted against LTCG.

Thanks.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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02 September 2013 Hp 2,03,000
(-)80C (99,730)
(-)80TTA (1408)
Net income 101,862
less :Basic slab (101,862)
Net tax on total income nil

Tax on LTCG :
LTCG 4,24,547
tax@20 % on above 84,909
net tax payable -nil
(84,909 is exempted as
98,138(2,00,000-1,01,862 basic slab)

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