please find tax calculation for
for financial year 2010-11
My total earnings 531347
loss from the property -69857 home loan
income from others -2088
profit from business – 461342
loss from salary – 36197
deduction under chapter 6A 111193
total taxable income 318577
non taxable income 150000/-
My 60,000 stuck with income tax dept from which there will deduct 15000 as a tax sp can show business deal losses or bills etc. for 158,000(which is taxable as shown) so that this taxable income comes under loss creidit still i have to pay tax for the same.If not then under which section in P&L
ANy suggestions
CAclubindia
