Dear
My Freinds total income during financial year 2011-12 is as under , he wants to knows his taxable income
He Gets Gross Salary for the Month of April 2011 to June 2011 Rs 18200 per Month out of which p.f.contribution for Rs 1360 per month , mean to say he ge rs 16640/- per month for the month of april to june 2011
on june 2011 his comapny wind up or sold his employer gives a sum of rs 164000/- as detail given below:-
salary for the month of june rs 16640
Notice Pay rs 18200
Leave encashments olds rs 9100
gratuity rs 52800
retrenchment of service rs 33980
full and final settlement rs 33280
total rs 164000/-
w.e.f. july 2011to feb 2012 he gets rs 20000 per month as salary income , but no form 16 issued by his employer. now he wants to file his income tax return for the f.y 2011-12, instead of this he invest rs 100000/- ( in hdfc life insurance scheme) on his wife and kids name. kindly tells me can income tax is applicable on him
i shall be very thanful to you for the same
CAclubindia
