Computation of income tax for the assessment year 2016-17

IPCC 492 views 3 replies

Dear Sir/Mam, 

               Please  help me  in solving this question 

 

A person aged 61 years has the following incomes :

  • LTCG - 2,00,000.00
  • STCG - 30,000.00
  • LOTTERY WINNIGS - 20,000.00
  • BUSINESS PROFIT - 2,20,000.00
  • NET AGRI INCOME - 40000.00

 

Deductions

  • LIFE INSURANCE PREMIUM - 60,000.00

Whats the amount of tax payable for the A.Y. 2016-17?

Replies (3)
Dear Anil Kumar,
Please avoid using this platform as a ready made for answers. We request you to attempt the same here. In case of errors, we will guide you.

Dear Sir, I have tried calculate, I m not getting the non agricultural income

 

In second step Its 300000+40000 = 340000

 

Tax 4000 But in First Step what's the amount calculation of capital gains

Sir CA. Kaushik I got the answer...


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