income tax - problem

 I guess ques of this pattern was there in nov ques papers....

first item has to be taken

second item is exempt as per sec 10(1)

third is taken

For the net items get the TDS rates and apply surcharges and find the gross amounts and add

for example if the rate is 10% then after adding surcharge 3%(3% of 10) it will be 10.3% ..so the net amount will be 100-10.3 which means 89.70..

so gross amt = (net amount/89.70)*100

interest on POSB is exempt U/S 10(15) and PPF U/S 10(11)

dividend is exempt 

For lottery find the gross amount after applying 30% TDs rate and no other exp shall be allowed as ded as per sec 115 BB(no ded for purc of tickets)

With regard to income from subletting all related expenditure incurred to earn that income can be claimed as ded as per sec 57

PLZ FIND ATTACHED SHEET..

thanks hareesh and amir

in this question given only   "calculate raju's income from other sources for the assesment year 2010-11" will i have to calculate tax liability also ?

Hi Ganga,

NOT AT ALL..THE QUESTION REQUIRES U TO COMPUTE INCOME FROM OTHER SOURCES ONLY..

I MADE THE COMPUTATION JUST FOR UR SAKE & CLARITY..