deduction u/s 80C Rs 1,50,000 and extended deduction Rs 50,000 u/s 80 DDB based on payments made during financial year.
Efiling
I am salary class individual with Total income from salary is Rs 553900. After deduction of Rs 12100 as exempt under Sect 10 and Rs 18720 as deduction under sect 80C (PPF contribution) Tax of Rs 35781 + education cess ie total of 36854 has been deducted as TDS as form 16 further I have additional income of rs 198389 from Pension (previous service) Also I have paid housing loan interest of Rs 132929 during the financial year and Rs 6398 as LIC premium I want to know std deductions and various exemption in my case inorder to efile my return. Thank you
Asked 9 years ago in Income Tax
sir, My total income is Rs 7,52,289 Rs 1,32,929 + 6,289 (Housing loan interest for FY + LIC premium) + Std amount Rs 2,50,000 must be deducted from the above total income , So is it correct ...?????? And finally the net taxable income is 3,62,962 and tax to be paid is Rs 36,296.....??? Rs 35,781 tax already paid as TDS (form 16). So finally I have to pay only Rs 530 including education cess 3% ..? Is the whole calculation correct sir ..? Thank you
Asked 9 years ago
Unless I see all steps in calculation I can not confirm the correctness.
I think i received the same in my mail and have answered the same . If not kindly send the same if needed.
Ask a Chartered Accountant
Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
Ask a CA