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TDS AND INCOME TAX CALCULATION

Tax planning 299 views 3 replies

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??

Replies (3)
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)

Yes apart from TDS. He is liable to income tax


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