Mr A is an individual below 60
He has opted for the old regime
He is a non govt employee (presently working with employer 2)
income/amount received details for FY 23-24
salary from employer 1 (govt)-4 lakhs
gratuity from employer 1-50000
el encashment from employer 1-50000
salary from employer 2 (non govt)-7 lakhs
Reimbursement of hospitalization expenses received from employer 2- 25 lakhs
Deductions available
Standard Deduction 50000
80 C 1.5 Lakhs
Joint home loan-total yearly interest for FY 23-24 is 3 lacs
Home ownership Share - 60% Mr A and the remaining share pertains to his spouse
Joint Loan Share -40% Mr A and the remaining share pertains to his spouse
Based on the above mentioned details what is the Taxable income of Mr A for the FY 23-24 ?
CAclubindia
