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Tax Liability for the Assessment year 2010-11
Assessee : Individual (Female)has the following incomes & deductions -
NetIncome from House Property : Rs.1,20,000
Short Term Capital Gain on sale of shares (Section 111A) : Rs.5,00,000
Deductions under Chapter VIA - Rs.1,15,000
Please let me know the tax liability for the Assessment year 2010-11 for the above issue.
Replies (1)
dear sir as per ur information ur tax liability is rs.(500000-175000)*15%=48750
education cess=48750*3%=1462.5
total tax liability=48750+1462.5=50210
regards
tarun rustagi
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