Computation of income tax for the assessment year 2016-17

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...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details