TAX CALCUALTION

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BHARATH KOTHARI

Self Employed

149 Points Posted on 11 September 2009

wanted to know tax calculation of x perrson

salary 3,00,000

LTCG 60,00,000 by selling shares which are recd as gift and shares are not of an listed co.

Interest 30000

Invested In 80.C 100000

& Charitable Institiion 270000

plseas guide me in this respect

Thanks in advance

Replies (3)

VARUN

PCC STUDENT

465 Points Posted on 12 September 2009

in which charitable institution u have invested ???? is that institution notified u/s 80G ???

plz provide the following details ....

Regards

Varun Makhija

BHARATH KOTHARI

Self Employed

149 Points Posted on 12 September 2009

Originally posted by :BHARATH KOTHARI

hi
wanted to know tax calculation of x perrson
salary 3,00,000
LTCG 60,00,000 by selling shares which are recd as gift and shares are not of an listed co.
Interest 30000
Invested In 80.C 100000
& Charitable Institiion 270000 yes it is notified in 80G at 50% a chatiable trust
plseas guide me in this respect

Thanks in advance

Nicky

Chartered Accountant

329 Points Posted on 05 April 2010

The working is for assessment year 2010-11:

Particulars	Amount
Salary	300000
LTCG	6000000
Other Sources	30000

Gross Total Income	6330000
Deduction u/s 80C	-100000
Deduction u/s 80G	0
Net Taxable Income	6230000
Income Tax
- LTCG @ 20%	1200000
- Balance on Slabs	7000

Total Tax	1207000
EC & HEC @ 3%	36210

Total Tax Payable	1243210