simplest capital gain question ? plz help

CA Final 496 views 4 replies

basic exemption limite being 190000 (women)

now , she has a salary income of 190000 and a short term capital being rs 30000 covered under section 111A ( taxed @ 15 percent ). she also has an lic of 100000.. now compute her tax !!

please dont confuse. respond only if u r sure enough !!

Replies (4)

Total Income = 1,90,000+30,000 = Rs. 2,20,000

Net Income =2,20,000-1,00,000 = Rs.1,20,000/-

 

Taxable Income = Rs.1,20,000/-

net tax Payable = NIL

 ok...................

okii...... thanx dheeraj

most welcome mr. Shobhit


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