Suppose Mr X salary income is 160000 p.a and he is getting income from commission Rs 5 lakh ...then apart from Tds will he liable to income tax ? Please reply with calculation..Whether that commission is added to total income??
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TDS AND INCOME TAX CALCULATION
Replies (3)
Quick Summary
Yes he is liable for Income tax. Yes Commision income should be added
Yes, total income liable to Tax
Income from Salary - Rs.1,07,500 (considering Std Deduction and 2500 PT).
income from Other Sources- Rs.5,00,000(Considering no expenses have been incurred)
Income from Salary - Rs.1,07,500 (considering Std Deduction and 2500 PT).
income from Other Sources- Rs.5,00,000(Considering no expenses have been incurred)
Yes apart from TDS. He is liable to income tax
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