Query

does anyone have solution of this question?

Q.gross salary - 500000

family pension @ rs 2000pm 24000

income of minor child 6000

accumulated balance in provident fund of her husband after his death - 120000

gratuity received after the death of his husband 90000

calculate taxable income of mrs. radhika . - from CS executive test paper 4/2010 of tax laws.

thanks

Replies (5)

DEAR GANGA,

 

1) SALARY -----------------                                        5,00,000

2) INCOME FROM OTHER SOURCES  

        A) FAMILY PENSION      24,000

              LESS:-EXEMPT         (8,000)

                                             -------------                     16,000

          B) MINOR'S INCOME     6,000

                 LESS:- EXEMPT    (1,500)

                                            ---------------                     4,500

                                                                             ---------------------

TOTAL INCOME                                                      5,20,500

                                                                            -----------------------

 

NOTE ;- GRATUITY WILL BE TAXABLE IN THE HANDS OF LATE HUSBAND

:- ACCUMULATED PF BALANCE IS EXEMPT

thanks amir,

 

 

Amir, i have a query on the problem solved above -- income exemopton for female has not be considered? any specific reason?
Total income has been computed. Tax Computation is to be made now on the basis of Total Income.
Dear Jasmine, Question requires the computation of Total Income & Not tax liability... Yes u r rite female exemption will be given.

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