Please tell my Tax Liability, on given income

This query is : Resolved 

27 July 2009 Please tell my Tax Liability, on given income :-
Income from Salary: Rs.2,85,400; Income from LIC Senior Citizen Scheme: Rs.24,000; Income from RBI Bond (interest from GOI 8% Saving {Taxable} Bond- 2003: Rs.48,000; Income from Post Office M I Scheme: Rs.60,000; Income from UTI (US 64): Rs.5,400; Income from interest from ICICI Bank (int. other than int. on Securities): Rs.1,77,724; Income from Saving A/c : Rs.8,000.
TDS Deducted as:
On Salary : Rs.13,946; RBI Bond : Rs.4,944; Interest from ICICI Bank : Rs.18,306.

27 July 2009 You have not specified your deductions under Chapter VIA (sec. 80C and others)and Any Advance Tax/Self Assessment Tax payment made by you. Assuming you are senior citizen (As you have income from LIC SC Scheme)and have no deduction under Chapter VIA and have not made any tax payment so far, your total tax liability (including Education Cess & Higher Education Cess)comes to Rs.80,789/-. Out of this TDS of Rs. 37,196/- shall be deducted. So your tax liability comes to Rs. (80,789-37,196) 43,593/- plus Interest u/s 234B&C of Rs. 3,353/-. Total Tax & Interest liability comes to Rs. 46,946/- (43,593+3,353/-)

27 July 2009 Agree with expert




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries