LIVE GST Audit Course by CA Sachin Jain. Register Now!!

it's shame yaar no one is there who knows solution in 3lacs

CMA RAVI GUPTA (MT in VPL) (493 Points)

18 December 2009

Sorry members but I will have to say I am ashemed that in 300000 members there is no one who can solve because I have posted this props many times but I could not get any reply I think we should help each others..............

The total income of Mrs. Z computed for the A.Y. 2009-10 is Rs. 2,00,000 which includes the following:

Long Term Capital Gain 30,000

Winning from Lottries 20,000

Short Capital Gain u/s 111A 10,000

Agriculture income earned by her was Rs. 50000.Compute the tax payable by Mrs. Z?

Pls friends help me yaar..........................................................?????????????????????????:)

Reply
Follow
Share

32 Replies

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 18 December 2009

Here tax will be only on Winnings from Lottries 20000*30% =6000 plus 3% Cess

One suggestion to u Ravi.. Never post any query wid such type of bad title (

it's shame yaar no one is there who knows solution in 3lacs) if u r professional..

Adarsh

2 Like

(Guest)

Hi, Ravi yoyu said the total income is Rs. 2,00,000/- but you supplied information for only Rs. 1,10,000 (30000+20000+50000+10000) what does the differnce income of Rs. 90,000 consist.

Please give details for quick answer.

Vivek (CA FINAL) (75 Points)
Replied 18 December 2009

ans. is here see ---------

total income 200000

income tax on 250000 (a) (see note) 14500

income tax on 230000 (b) (5000)

(ag. income 50000 +exempted slab 180000)

a-b = 9500+3% education & higher education cess = 9790 ans.

note - tax on 250000 computed as under :

tax on long term capital gain 30000*20% = 6000

tax on winning from lotteries 20000*30% = 6000

tax on 111A 10000*15% = 1500

tax on other income

190000-180000=10000*10% = 1000

total = 6000+6000+1500+1000=14500

tajsenthil (student) (34 Points)
Replied 19 December 2009

WINNINGS= 20000*30/100 = 6000 + ES 3% . SHE CAN AVAIL BASIC EXAMPTION OF RS.190000(AY-2010-11) ( HER 200000 INCOME FULL DETAILS REQUIRED FOR MORE CLARITTY)

Goongan (Student) (450 Points)
Replied 19 December 2009

tax Computation as bellow ...

WINNINGS= 20000*30/100 = 6000 + ES 3% .= tax payable Rs.6180/-

also Pls clearify detail of long term capital gain

SHE CAN AVAIL BASIC EXAMPTION OF RS.190000(AY-2010-11) ( HER 200000 INCOME FULL DETAILS REQUIRED FOR MORE CLARITTY)

CMA RAVI GUPTA (MT in VPL) (493 Points)
Replied 19 December 2009

first of all adarsh I want to tell u one thing that is ur answer is wrong ,,there is no tax on LTCG and STCG u/s 111A according to u..................secondaly I have posted this query many times but I did not got any reply................Now I changed the titled then u replied.thanxx for ur reply........and one thing I am also a professional so that I posted this query...........

CMA RAVI GUPTA (MT in VPL) (493 Points)
Replied 19 December 2009

Ketan this is a complete question......here 2,00,000 includes :

Long Term Capital Gain 30,000

Winning from Lottries 20,000

Short Capital Gain u/s 111A 10,000

and does not include agriculture income> and income is that type of income which is taxable at normal slab rate.thanxxx Ketan to see this query...........

CMA RAVI GUPTA (MT in VPL) (493 Points)
Replied 19 December 2009

vivek U tried well but u r also wrong...................and tajsenthil u charged tax on only casual income..........no tax on LTCG and STCG according to u>>>>

CMA RAVI GUPTA (MT in VPL) (493 Points)
Replied 19 December 2009

dharmveer pls tell me which type of detail in respect of LTCG do u require...................I could not understand???????

CA Nitin Wadhwani (Chartered Accountant) (4469 Points)
Replied 19 December 2009

Tax Payable - 6180/-

raj (article) (39 Points)
Replied 19 December 2009

HEY Ravi,

let me make u 1 thng very clear,u r not PAYING here one to mandatorily answer ur queries and u shuld generate the level of generosity to convince others to answer ur question.

And as observed from ur replies u r pointing wrong 2 every 1 answering this question of yours and if u knw th solution then y hav u posted the above query.

GROW UP BROTHER

And learn some BASIC MANNERISMS.

2 Like

Vivek (CA FINAL) (75 Points)
Replied 19 December 2009

wht do you mean that i tried well......... heyyyyy my ans. is right.

see pe2 may 2006

subasri (searching for a job) (54 Points)
Replied 19 December 2009

tax rs.6180 is correct

CMA RAVI GUPTA (MT in VPL) (493 Points)
Replied 20 December 2009

Hey Raj,First of all I did not give any right to u to on me comment without doing any thing if u want to comment sth then u should try to give answer my query,otherwise "iske aas pass bhi mat bhatko"aap ne wo kaam kiya hai ki kahte hain ki"bahti hue ganga me hath dhona"so it's my advice brow that when u were in air don't comment on flow of water if u want to comment then first of all feel the flow of water after that u r eligible to comment. aur haan isi baat par thode basic manners bhi sikha do saath hi institute ka naam bhi bata do jo aapne khol rakha basic manners sikhane ke liye.thanxxx buddy