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

CMA 2590 views 32 replies

resident women can only avail exemption of 180000....and if non agricultural income exceeds basic exemption limit then only u can aggregate the income...

Originally posted by : charu
normal income(i.e. income other than LTCG, STCG u/s 111A, Casual income) = 200000-30000-10000-20000 = 140000
exemptiom= 180000
relief= 40000
relief of 40000 shall be adjusted first from LTCG i.e. Rs. 30000 and then from STGC u/s 111A i.e. Rs. 10000
relief cannot be adjusted from casual income
so taxable portion of income comprises of only casual income of Rs. 20000
as far as agricultural income is concerned,
LTCG, STCG u/s 111A n casual income are not considered for the purpose of partial integration and if non agricultural income excluding these items is < exemption limit, then partial integration is not applicable.
so, tax liability is 6180((20000*30%)*103%)

 

This is only the right answer Mr. RAVI...

my answer was final wat i had gvn in my 1st msg..

do check ur knowledge bank..

read the provisions again..

 

Adarsh

if all of you want correct solution please see in singhania book PE2 MAY 2006.


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