RADHIKA received the follwing amount during the financial year 2009-10
gross salary 500000/-
family pension @ 2000/ pm 24000/-
income of minor child 6000/-
accumlated balance in provident fund of
her husband after his death 120000/-
grauity received after death of
her husband 90000/-
cacluate the taxable income for radhika for assesement year 2010-11
Sir, plz provide the full information regading the amount of salary (montly salary), provident fund and gratuity received.
Dear Sunny,
1) Salary = 5,00,000
2) Family pension = 24 K less exempt Rs. 8 k = 16,000
3) Minor child = 6k less exempt 1.5 k = 4,500
4) Accumulated PF Balance (assumed exempt) = Nil
5) Gratuity (asumed it is exempt u/s 10) = Nil
Gross Total Income = 5,20,500
SSGS and Associates
Chennai
CA Inter
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Rahul Dang & Associates-Chartered Accountants
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