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Income tax on non proof of income documents
Source of Income : Land and Flat Brokerage
Yearly Income : 4.00 Lakhs
Transactions : Totally Cash
Source of documents : Nil
question : How to pay Income Tax on 4.00 Lakhs and What is the rate ? ..... Pls. reply
Replies (1)
Assuming that you have no other incomes and deductions, you need to pay an income tax of Rs 1000 after rabate u/s 87A for Rs 2000. Because you can claim expenses for brokerage income (not exceeding 30% of the income is adviced).
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