AUDITOR VINOTHKUMAR (a) (870 Points)
18 April 2011SALARY INCOME 01-04-06 TO 31-03-07 99600
PER MONTH 8300*12 MONTH
ASSESSABLE INCOME 99600
AGRICULTURE INCOME 145000
TOTAL INCOME 244600
TAX THERE ON 23920
LESS BASIC EXEMPTION AND AGRI. INCOME 24000
TAX PAYABLE NIL
THIS TAXABLE CALCULATION CORRECT OR NOT PLS.. HOW TO CALUCUTAION URGENT HELP ME.????????
susanta kumar jena
(CA Final/ICWA Final)
(50 Points)
Replied 18 April 2011
Hello,
here the salary income does not cross the exemption limit so ,it will not be taxable.
prashantkumar
(CA final)
(96 Points)
Replied 18 April 2011
sayed
(Auditor)
(27 Points)
Replied 18 April 2011
If revenue is coming from land which i have given for agricultural purpose, will it be considered as agricultural income?
| Originally posted by : prashantkumar | ||
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ya am Agreeing with susanta kumar sir statement becoz 4 agreegating agricultural income with non-agricultural income, non-agre income should exceeds the besic exemption limit. i think u had clarifed ur dvt. |
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Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 19 April 2011
| Originally posted by : susanta kumar jena | ||
|
|
Hello, here the salary income does not cross the exemption limit so ,it will not be taxable. |
|
well said.
CAclubindia
