Tax liability
Querist : Anonymous
gender :male
age : 48
income details f.y.2011-12
LIC COMMISSION : 585179.(no bifurcation of commision)(books not maintained)
pancard club commission : 304573.
interest on hosuing loan paid:82000
lic:120000
mediclaim : 20000
entertainment expenses :30000
travelling expenses : 50000
telephone :15000
tds ( as per 26As) : pancard= 30462
lic = 58518
please tell me how much will be tax liabilty..
any more details required please let me know..
thanks in advance
Total Income Rs. 889752
Less: Housing Interest Rs. 82000
Income Chargeable to Tax 807752
Less; 80C & 80D 115000
Net Income Chargeable 692752
Tax on Income 88550
Less TDS 88980
Refund 430
Thanks
Querist : Anonymous
but we wont get deduction for expenses?
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