20 August 2014
Calculate deductions from gross total income (i.e. salary income and other income) u/s.80c etc., deduct them from Rs.6 lacs + any other income (if any) and then if they are under Rs.5 lacs :- 10% of (Total Income - 200000) Minus - Rs.2000 [special rebate u/s. 87A]
and if TI will be more than 5 Lacs :- 20% of (Total Income - 500000) + 30000 [no rebate u/s. 87A available coz TI > 5L]
21 August 2014
you have to calculate the all exemption of allowance if allowed under the income tax act. then you take income from salary. and then take deduction u/s 80 and after that you can take the procedure tell by Mr. P K aggarwal
CAclubindia
