How to compute tax liability
veera (self) (287 Points)
29 July 2021If an assesse having the income from
Salary is 4,00,000
LTCG is. 500,000
STCG is 500,000
then how i have to compute the tax
sir pls provide solution of this question
sabyasachi mukherjee
(26037 Points)
Replied 29 July 2021
AKN FINANCIALSERVICES
(146 Points)
Replied 29 July 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 29 July 2021
Income tax calculator from IT portal might help you in this regard
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 29 July 2021
Your taxable income minus your tax deductions equals your gross tax liability. Gross tax liability minus any tax credits you're eligible for equals your total income tax liability.
To calculate net income for a business, start with a company's total revenue. From this figure, subtract the business's expenses and operating costs to calculate the business's earnings before tax. Deduct tax from this amount to find the NI.
sabyasachi mukherjee
(26037 Points)
Replied 29 July 2021
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
Nidhi
(Chief Accountant)
(3150 Points)
Replied 31 July 2021
sabyasachi mukherjee
(26037 Points)
Replied 31 July 2021
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"