Is Quiz shoe earning allow to deduct in 80c

1) Quiz Show - It is a casual income taxable at flat rate of 30% and no deduction is allowed in terms from such income.

2) The additional amt. of income tax payable together with surcharge on excess of income over 1 crore s'd not be more den the amt. of income exceeding 1 crore.

3) Gratuity exempt shall be least of foll:-

(1) Actual recvd

(2) 10 lakh

(3) 1/2 month salary on the basis of avg. last 10 month salary for each completed year of service (not covered under gratuity act

15/26*last drawn salary * No. of years service (period over 6 months is counted as 1 year)  

Thanks Pulkit,

Needs litte bit more help...

1) Max. gratuity Rs.10L limit introduced from which AY

2) Can employer give more than max. amount as gratuity ex. Rs.11L  (Y/N)

3) Can you explain marginal relief with example

waiting for your valuable reply

Regards,

Keyur

1) Here u can find the copy of notification

https://www.simpletaxindia.org/2010/03/gratuity-limit-10-lakh-cabinet-consent.html

  /forum/is-gratuity-limit-enhanced-under-income-tax--80753.asp

2) Yes he can. We are talking abt. the exempted value of Gratuity from the prospective of employee. 

3) Marginal Relief is calculated only when the company is attracting the Surcharge.

By example you can easily understand this.
suppose tax rate is 30% and surcharge is 5%.
Income of A Ltd - 99.9 lakhs then tax is 29.97 lakhs
Company-B income is 1.01crore then surcharge will attarct and its total tax will be 31.51lakhs.
for gaining 1 lakh, he is paying a surcharge of 1.5 lakhs.
which is more than his additional earnings.
in this marginal relief will be given

Source - 

/experts/hello-622505.asp
sudhakar ca cwa

Dear All,

I am preprating for CFP tax planning exam...request to ans queries on priority basis...thanks in advance.

1) What is book profit ref to partnership firm...explain with ex

2) What is section 94(7) & request with ex

3) Tax rate for AOP & BOI

4) Motor car valuation ref to perquisites

5) If there is transfer of asset which is not recoverable during life time of the transferee, income arising from such asset shall be included in the income of 

a) Transferor 2) Transferee 3) Transferee till his death & thereafter in the hands of the transferor

waiting for your valuable reply