Transcription of Suggested solutions to 3-mark and 4-mark …
{{id}} {{{paragraph}}}
Example: air traffic controller
Suggested solutions to 3-mark and 4-mark …
Suggested solutions to 3-mark and 4-mark problems contained in the Sample Paper - Exam 4: Tax planning & Estate PlanningSection IIQuestion 6 Solution:Income from Salary978,000 Rs. Interest from Savings bank account 18,142 Rs. income 996,142 Rs. +18142 Basic salary40,000 Rs. eligible:Interest up to Rs. 10,000 on savings bank (u/s 80 TTA)10,000 Rs. Recognised provident Fund contributions (cum. limit Rs. lakh)57,600 Rs. 40000*12%*12 Total deductions eligible67,600 Rs. 10000+57600 Taxable Salary928,542 Rs. 996142-67600Up to Rs. 3,00,000 : Nil (Senior citizen)- Up to Rs. 5,00,000 : 10% in excess of Rs. 3 lakh20,000 Rs. (500000-300000)*10%Up to Rs. 10,00,000 : 20% in excess of Rs. 5 lakh85,708 Rs. (928542-500000)*20%Education Cess(es)3,171 Rs.
Suggested solutions to 3-mark and 4-mark problems contained in the Sample Paper - Exam 4: Tax Planning & Estate Planning Section II Question 6 Solution:
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: