TDS AND INCOME TAX CALCULATION

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223 Points Posted on 25 June 2021

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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On 25 June 2021 at 07:39 Report
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This discussion clarifies whether an individual receiving both salary and commission income is liable for income tax beyond TDS. The consensus is yes, commission income is added to the total income for tax calculation purposes. The example shows that salary income, after standard deductions, combined with commission, forms the total taxable income.

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Chartered Accountant
24588 Points Posted on 25 June 2021
Yes he is liable for Income tax. Yes Commision income should be added
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On 25 June 2021 at 09:59
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170 Points Posted on 25 June 2021
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)
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On 25 June 2021 at 10:09
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 21 July 2021

Yes apart from TDS. He is liable to income tax

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On 21 July 2021 at 19:07

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