20 June 2012
My income for the year is Rs 450000/ out of which Rs 200000/ is rental income 200000 is from technical services and 50000 is out of commision , which form is required to fill and how can i claim expensis for each category, how shall i calculate my tax liability ,Thanks in anticipation
20 June 2012
from rental income u can claim first house texes, from the balance u can deduct 30% standar deduction and interest on housing loan if any. from technical services and commission income u can claim expenses directly incurred for providing the same. combine all this income after deduction and calculate tax liability as per slab rates as applicable.
CAclubindia
