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Tax queries 299 views 3 replies

TOTAL GROSS SALARY OF MY CLINT RS. 1,60,000/-

OTHER INCOME 1,00,000/-

ANNUAL  PF DEDUCT 9360/-  TAXABLE/EXEMP OR NOT ?

ANNUAL ESI DEDUCT 2172/- TAXABLE/EXEMP OR NOT ?

HOW TO COMPUTE INCOME

THANKS

9826071499

Replies (3)
As per above information no tax on above income , first you mentioned the year of income I assumed income of a.y.2017-18,
income tax exempt up to income of rs.250000/- as per above information the total income of ur client is rs.260000- Less(9360+2172) 11532/ net income rs.248468/ so there is not tax

AMIT SIR LOT OF THANKS

SO I DEDUCT  BOTH IN SEC 80C   ?    (PF + ESI (9360+2172) 11532/-

 

HELLO SIR

I FILLING A CONTRACTOR RETURN,  I CHOOSE ITR-4,

CONTRACTOR GROSS RECEIPT-  BY BANK RS. 5 LAKH AND CASH RS. 3 LAKH  (TDS NOT DEDUCT BY CONTRACTEE)

EXPENSES 4,80,000, NET RECEIPT RS. 3,20,000

CAN I SHOW 3,20,000 RS. IN OTHER INCOME ? OR CAN I SHOW AS BELOW:-

GROSS TURNOVER OR GROSS RECEIPT:-

     E1A-: BY BANK MODE GROSS RECEIPT 5 LAKH RS.

     E1B-: ANY OTHER MODE GROSS RECEIPT 3 LAKH  RS.

PRESUMPTIVE INCOME UNDER SECTION 44AD:-

     A-: 6% OF E1A  RS. 2,00,000

     B-: 8% OF E1B RS. 1,20,000

SIR PLS. REPLAY

THANKS


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