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)
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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