TOTAL GROSS SALARY OF MY CLINT RS. 1,60,000/-
OTHER INCOME 1,00,000/-
ANNUAL PF DEDUCT 9360/- TAXABLE/EXEMP OR NOT ?
ANNUAL ESI DEDUCT 2172/- TAXABLE/EXEMP OR NOT ?
HOW TO COMPUTE INCOME
THANKS
9826071499
3 Replies
Amit Mishra
(Accountant)
(62 Points)
Replied 04 January 2018
As per above information no tax on above income , first you mentioned the year of income I assumed income of a.y.2017-18,
income tax exempt up to income of rs.250000/- as per above information the total income of ur client is rs.260000- Less(9360+2172) 11532/ net income rs.248468/ so there is not tax
income tax exempt up to income of rs.250000/- as per above information the total income of ur client is rs.260000- Less(9360+2172) 11532/ net income rs.248468/ so there is not tax
DEEPAK KHATWA
(ACCOUNTANT)
(25 Points)
Replied 04 January 2018
AMIT SIR LOT OF THANKS
SO I DEDUCT BOTH IN SEC 80C ? (PF + ESI (9360+2172) 11532/-
DEEPAK KHATWA
(ACCOUNTANT)
(25 Points)
Replied 19 August 2018
HELLO SIR
I FILLING A CONTRACTOR RETURN, I CHOOSE ITR-4,
CONTRACTOR GROSS RECEIPT- BY BANK RS. 5 LAKH AND CASH RS. 3 LAKH (TDS NOT DEDUCT BY CONTRACTEE)
EXPENSES 4,80,000, NET RECEIPT RS. 3,20,000
CAN I SHOW 3,20,000 RS. IN OTHER INCOME ? OR CAN I SHOW AS BELOW:-
GROSS TURNOVER OR GROSS RECEIPT:-
E1A-: BY BANK MODE GROSS RECEIPT 5 LAKH RS.
E1B-: ANY OTHER MODE GROSS RECEIPT 3 LAKH RS.
PRESUMPTIVE INCOME UNDER SECTION 44AD:-
A-: 6% OF E1A RS. 2,00,000
B-: 8% OF E1B RS. 1,20,000
SIR PLS. REPLAY
THANKS
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