GROSS TOTAL INCOME -729845
I have 1,20,000 invested in ELSS TAX SAVING SCHEME
RS. 59845 - MY CONTRIBUTION TOWARDS NPS
RS. 59845 GOVT. CONTRIBUTION TOWARDS NPS
WHAT IS MY TOTAL TAXABLE INCOME
HOW MUCH DEDDUCTION WILL I GET UNDER SECTION 80C
3 Replies
Ravi
(Ca articleship)
(335 Points)
Replied 09 July 2018
u got full 120000 deduction, u less Ur 120000 from your gross total income.
Abhijeet Joshi
(n)
(74 Points)
Replied 09 July 2018
Your computation of income will be as follows :-
Gross total income - 729845
Deductions under 80c - 120000
Deductions under 80ccd - 50000
Total taxable income - 559845
Gross total income - 729845
Deductions under 80c - 120000
Deductions under 80ccd - 50000
Total taxable income - 559845
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 09 July 2018
Gross total income - 729845
Deductions under 80C-ELSS&80 CCD(1) (80 CCE) - 129845
Deductions under 80 CCD(1B) - 50,000
Deductions under 80 CCD(2) - 59845
Total taxable income - - 4,90,155
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