SUNNY (STUDENT CS) (377 Points)
21 February 2010RADHIKA received the follwing amount during the financial year 2009-10
gross salary 500000/-
family pension @ 2000/ pm 24000/-
income of minor child 6000/-
accumlated balance in provident fund of
her husband after his death 120000/-
grauity received after death of
her husband 90000/-
cacluate the taxable income for radhika for assesement year 2010-11
CA Reetika Agarwal
(Chartered Accountant)
(43 Points)
Replied 22 February 2010
Sir, plz provide the full information regading the amount of salary (montly salary), provident fund and gratuity received.
Amir
(Learner)
(4016 Points)
Replied 22 February 2010
Dear Sunny,
1) Salary = 5,00,000
2) Family pension = 24 K less exempt Rs. 8 k = 16,000
3) Minor child = 6k less exempt 1.5 k = 4,500
4) Accumulated PF Balance (assumed exempt) = Nil
5) Gratuity (asumed it is exempt u/s 10) = Nil
Gross Total Income = 5,20,500
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