Poonawalla fincorps
Poonawalla fincorps

Presumptive business

This query is : Resolved 

14 March 2014 SIR,

I M ENGAGING BUSINESS IN IMPORT & EXPORT CONSULTANCY & FREIGHT FORWARDING & DOING PART TIME JOB WITH CONSULTANCY FIRM. Here is details of Income + Salary. Pls be advise what would percentage be applicable on my business.

SALARY - 216500

BUSINESS INCOME - 85071/-

PPF - 13500/-

LIC - 3055/-

MEDICLAIM - 1768/-

TDS DEDUCTED - 408/-

15 March 2014 Salary - 2,16,500
Business - 85,071
GTI - 3,01,571
Less: Deduction
80C
PPF - 13,500
LIC - 3,055
80D - 1,768

Total Income - 2,83,250
Tax - 8,325
Less: Rebate u/s 87A - 2,000
Tax - 6,325
Add: EC & SHEC 190
Total tax - 6,515
Less: TDS - 408

Tax payable - 6,107



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