Itr

This query is : Resolved 

21 September 2011 Dear Sir i have income from salary professional fees & interest income from bank than which ITR aplicable for Asst. year 2010-11

21 September 2011 ITR-4 is applicable.

21 September 2011 if my salary income is 150000,consultancy income is 100000,interest income is 250000 tthan my taxable income is 5000000 or 500000-1600000

21 September 2011 Taxable income will be Rs. 5,00,000/- less deductions under Chapter VIA (80C, 80D, 80CCF, etc.)

Thereafter for computing income tax payable, slab rate will be applied.

21 September 2011 in this case we not get 1,50,000 tax limit free income as income tax

21 September 2011 Yes you will get the exemption limit. That is what is known as the slab rate.

21 September 2011 if my total income as per above 500000 than how much tax liability for a.y.2010-11,


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