Tax Liability
This query is : Resolved
09 March 2010
Respected all,
A resident male individual has Total Income of Rs.3,40,000/- for the A.Y. 2009-10 consisting of-
STCG- Rs.60,000/-.
Other Income- Rs. 2,80,000/-
What should be the tax liability?
Please note that the total income exceeds Rs. 3,00,000/- and hence falls in the slab of 20% for income from 3,00,000-5,00,000.
Regards,
Jyoti
A resident male individual has Total Income of Rs.3,40,000/- for the A.Y. 2009-10 consisting of-
STCG- Rs.60,000/-.
Other Income- Rs. 2,80,000/-
What should be the tax liability?
Please note that the total income exceeds Rs. 3,00,000/- and hence falls in the slab of 20% for income from 3,00,000-5,00,000.
Regards,
Jyoti
10 March 2010
15% on STCG:-9000/-
10% on 120000/-:-12000/-
plus E.Cess on 21000/-:630/-
Total Tax Amount: 21630/-
10% on 120000/-:-12000/-
plus E.Cess on 21000/-:630/-
Total Tax Amount: 21630/-
10 March 2010
10% on 140000/-:-14000/-
20% on Balance Rs 40000/-:-8000/-
plus E.Cess on 22000/-:660/-
Total Tax Amount: 22660/-
In the absence of any information as to the nature of STCG, it is presumed that the same accrued from sale of a Short Term Capital Asset other then shares on which STT has been paid.
20% on Balance Rs 40000/-:-8000/-
plus E.Cess on 22000/-:660/-
Total Tax Amount: 22660/-
In the absence of any information as to the nature of STCG, it is presumed that the same accrued from sale of a Short Term Capital Asset other then shares on which STT has been paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
