Personal tax

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21 Points Posted on 26 December 2020
my net income after deduction of 80 C is Rs.699000 which include LTCG of Rs. 2 lakh. Please let me known how much shall I have to pay tax. Wheather I will get rebate of Rs. 12500 u/s 87A
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On 26 December 2020 at 17:43 Report
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This discussion clarifies personal income tax calculations, specifically addressing a net income of Rs. 699,000 which includes Rs. 2 lakh in Long Term Capital Gains (LTCG) after Section 80C deductions. It confirms that a tax rebate under Section 87A is not applicable as the gross total income exceeds Rs. 5 lakh. The estimated tax payable is Rs. 54,550.

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student
27 Points Posted on 26 December 2020
No you won't get Rebate since Ur gross total income exceeds Rs.5 Lakhs
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On 26 December 2020 at 17:54
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Accountant
4533 Points Posted on 26 December 2020
Tax amount 54550
No you can't claim 87 A
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On 26 December 2020 at 21:15

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