does anyone have solution of this question?
Q.gross salary - 500000
family pension @ rs 2000pm 24000
income of minor child 6000
accumulated balance in provident fund of her husband after his death - 120000
gratuity received after the death of his husband 90000
calculate taxable income of mrs. radhika . - from CS executive test paper 4/2010 of tax laws.
thanks
Salary Income - 500000
Family Pension(Net) - 16000
Income of Minor Child - 6000
Gross total income - 522000
Tax Payable - 58600
Ed & H.ed Cess - 1758
Total Tax Payable - 60360
don't u think that income of minor is exempt with rs. 1500 per child so it will be 4500.
| Gross Sal | 500000 | 500000 |
| Pension | 24000 | |
| u/s 54 | -8000 | 16000 |
| Minor Child | 6000 | |
| -1500 | 4500 | |
| Total Income | 520500 |
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