What will be the tax liability of Mr. X for A.Y. 09-10 ?
1. H.P. Income (after deductions) - 67291
2. Interest Income - 51119
3. Long Term Capital Gain - 227935
4. Deduction U/s 80-C - 66378
5. TDS - 641
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Tax Calculation for A.Y. 09-10
Replies (1)
Gross Total Income=67291+51760+227935=346986
Less=80C Deduction= 66378
Total Income= 280608
Tax at Slab rate on income of Rs 52673= NIL
Tax on LTCG @ 20%=45587
Add= Cess 3%=1368
Total Tax=46955
Less Tds= 641
Net Tax liability=46314
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