Mentor at SHAYVIDZ Academy
3756 Points
Joined September 2007
Originally posted by : charu |
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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%)
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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