- Ms. Ankita completed her MBA from DAVV, Indore. She joined an enterprise as an Accounts Manager at a CTC of Rs 650000. She invested Rs 150000 in PPF and paid mediclaim for herself Rs 15000 using cash as a mode of payment. Discuss and compute her tax liability assuming she is residential individual for the Assessment year 2019-20
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Compute total tax liability
Replies (5)
In short
compute std deduction on rs.450000.
apply tax slab.
compute tax liability.
compute std deduction on rs.450000.
apply tax slab.
compute tax liability.
PPF investments can be claimed under 80c. mediclaim is not allowed since it's paid in cash. so total income is 500000. after allowing standard deduction of 40000,taxable income is 460000. her total tax liability will be 10920
Agreed with Mr Rama Krishnan.
Very Well Explained.... @ Rama Krishnan
Very Well Explained.... @ Rama Krishnan
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