TDS computation
This query is : Resolved
05 February 2009
One of my friend Doctor is getting Rs.35000/- pm. He is getting as 11600 as salary and the balance amt of Rs.23400 as consultnacy chgs. He took Rs.100000 NSC from postoffice.His other savings like pf Rs. 9000 pa.
kindly calculate his tax liability for the assessment year 2009-10
kindly calculate his tax liability for the assessment year 2009-10
05 February 2009
Tax liability on salary income can be work out easily. But if the person receives amount towards consultancy charges - so this income will fall under the head Business & Profession, he suppose to prepare Income & Expenditure Account - from which we can arive at final tax liability.
Investment in NSC is qualified investment to get deduction under section 80C subject to ceiling of Rs. 100000/-.
Investment in NSC is qualified investment to get deduction under section 80C subject to ceiling of Rs. 100000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
