hey vivek urs total process is correct but brow u did give the benefit of the exemption u/s 112(1)(a) in respect of LTCG .so there is only one mistake .

hey NITIN and SUBSARY according to u tax will be charged only on WINNING FROM LOTTRIES no tax on LTCG and STCG u/s 111A .WHY ???????????

u know what.

guys like u dont even deserve to get a membership in this very esteemed website.

it wud be my sincere request to moderators and the experts of this website to delete your account.

and as far as the concept of  basic mannerisms is concerned .

it is already embedded and impatred in a norma human being and i ur case

I think u R not NORMAL. or else u wuldnt hav acted in the above manner

and if u say u didint asked me the query

then let me make u 1 thing very clear I  constitute in the 3 lac members of this site so I mliable to act upon it.

THE most important of all is i DONT understand the need of urs to post the query if u alredy know the solution.

WHAT DO U THINK?U R WISE GUY OR SUMTHING LIKE DAT?

IF YES

THEN      U ARE A IGNORANT MORON

UNDERSTAND.......

GROW UP KID

just see MR> raj............I think u r incapable to comment on sth because what u said is valueless,,,,,I posted this query because I wanted to tally my answer.........................but did cimment on me inspiteof to solve query...............................YES I am not a normal person I am such type of person that U can not reach that level.........................U have to do hard work to reach that place ON which I stand.......................ok.

ans. is here see ---------

as per u/s 112(1)(a) when assesse (gross total income less LTCG<exempted limit) then assesse is entitle to get relief in respect of LTCG.And relief will be calculated as follows:

Relief = Exempted limit - (Gross total ncome-LTCG)

RElief = 1,80,000 - (2,00,000-30,000)

Relief = 180000 - 170000

Relief = 10000

So taxable LTCG Would be = 30000-10000=20000

Now assesses gross total income would be 200000-10000=190000

income tax on 240000 (190000+50000)     (a) (see note)    =   12500

income tax on 230000       (b)            =               (5000)

(ag. income 50000 +exempted slab 180000)

(a-b) So net tax                                      =                7500+3% education & higher education cess = 7725.

note - tax on 240000 computed as under :

tax on long term capital gain 20000*20%  = 4000

tax on winning from lotteries 20000*30% = 6000

tax on 111A         10000*15%                       = 1500

tax on other income:

190000-180000=10000*10%                    = 1000

total = 4000+6000+1500+1000=12500

Thanxxx guys If u have any query then can ask me.....................................

heyyy ravi,

solid jawab  yaar..........

& I like your attitude................dost

thanxx vivek ...................I also told u that u were also correct but u did only a minor mistake...............thanxxxx again yaar

as per u/s 112(1)(a) when assesse (total income less LTCG<exempted limit) then assesse is entitle to get relief in respect of LTCG.

as per u/s 111A(1)(b) when assesse (total income less STCGu/s111A<exempted limit) then assesse is entitle to get relief in respect of such STCG.

as far as my knowledge is concerned answer should be:

normal income(i.e. income other than LTCG, STCG u/s 111A, Casual income) = 200000-30000-10000-20000 = 140000

exemptiom= 180000

relief= 40000

relief of 40000 shall be adjusted first from LTCG i.e. Rs. 30000 and then from STGC u/s 111A i.e. Rs. 10000

relief cannot be adjusted from casual income

so taxable portion of income comprises of only casual income of Rs. 20000

as far as agricultural income is concerned,

LTCG, STCG u/s 111A n casual income are not considered for the purpose of partial integration and if non agricultural income excluding these items is < exemption limit, then partial integration is not applicable.

so, tax liability is 6180((20000*30%)*103%)

if i am incorrect then kindly tell me my mistake

Originally posted by : ravi gupta
	ans. is here see --------- as per u/s 112(1)(a) when assesse (gross total income less LTCGRelief = Exempted limit - (Gross total ncome-LTCG) RElief = 1,80,000 - (2,00,000-30,000) Relief = 180000 - 170000 Relief = 10000 So taxable LTCG Would be = 30000-10000=20000 Now assesses gross total income would be 200000-10000=190000   income tax on 240000 (190000+50000)     (a) (see note)    =   12500 income tax on 230000       (b)            =               (5000) (ag. income 50000 +exempted slab 180000) (a-b) So net tax                                      =                7500+3% education & higher education cess = 7725. note - tax on 240000 computed as under : tax on long term capital gain 20000*20%  = 4000 tax on winning from lotteries 20000*30% = 6000 tax on 111A         10000*15%                       = 1500 tax on other income: 190000-180000=10000*10%                    = 1000 total = 4000+6000+1500+1000=12500 Thanxxx guys If u have any query then can ask me.....................................

Chakas beeru, Answer tumhay pata tha lakin phokat may number bariye k liye dusron ka imtihan le rahay thay ? probably members already anticipated your so called magniloquences, accordingly they did not find it viable to reply you. 

wesay agar kuch members nay galate say tumhee post ka jawab de bhe diya to ab yeh na samajhna k ainda bhe den gay. Aur han, Tumhare pathetic soach per aik sher yad araha hai, Kahoon ?

are yaar aap bhi bol lo jab itno ne bol diya to aap bhi bolo yaar ............................aap kyon pichhe rahte ho......................thanxxx yaar

hello guru,

total tax liability is Rs.10,815.00.....................<>><><><><

a tata from Vijay

hi.....ravi.....i also gave my cwa inter in dec.......the ans is .....tax on  winning from lotteries

only.....i.e 6000 plus 3% cess.......

other income (200000 - 20000+10000+30000) = 140000

so...aggregation can't be done......

so she can avail of exemption of 40000 from LTCG & STCG.......again ...Mrs Z residential status is unknown

so...exemption limit can be of 150000

are  vijay bhai ye aapne kaise calculate kiya thoda explain...........kyonki yaar aap to sabse jyaada nirale ho.......................it;s a unique answer............ 

HI Mayuri pls tell me that why did u not considered the Agriculture Income in calculation of tax ????If residential status of an assesse is unknown then it can be assumed that he/she is "resident and ordinary resident "  .How it could possible that the exemption limit could be 150000?in the case of women the exemption limit would be either 180000 or 225000 for the A.Y. 2009-2010.