Sir,
following is the total income of a salaried person employed in our company:-
Basic-15200, HRA-7600,Project allowance-1200 conveyance allowance- 1000 per month from June08 to March 09
Total income- for 10 months till march 09- 250000Rs.
Total income for April and May- Rs, 25000 only
Total income for the F.Y 08-09= Rs. 275000
His investment in LIC till march 09- Rs. 65000
Now please tell me his tax liability for assessment year 09-10. He does not pay house rent/loan note it. HOw much deduction he will get for his investment
Thanking You.
Pardeep Kumar
CAclubindia
