Menu
Tax liability calculation?
Total income of Hari, a resident individual is 4,90,000 for AY 21-22. His income compromise of LTCG on sale of land is 2,00,000 and PGBP is 2,90,000. Find tax liability.
Replies (4)
Quick Summary
His total liability will be 30680 rupees
Remember you can use BEL for LTCG only after all other incomes are adjusted against BEL.
here you have business income of Rs. 2,90,000 which has ate all your BEL and you don't have BEL balance to use against LTCG. hence you have to pay tax as below
Business income is 2.9L-2.5L=40K*0.05=2K
LTCG=2L*0.2(LTCG Rate)=40K
Tax Liability is 40k+2k-12.5k=29.5k+1.18k=30.68k
30680.
i confirm the computation provided by ramaraju
i confirm the computation provided by ramaraju
Agree as I mentioned earlier
Recent Topics :
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
Related Topics :
CAclubindia
