Tax Calculation

Mr X approached to you with the following information, please make a financial plan for
him.
Mr X (age -28) Per Month Salary – 45,000Rs (Job with Infotech Ltd)
Mrs X (age-24 & Teacher at private primary school) earning 10,000Rs PM
Mr Y (father of Mr X age55), having business & Net Income PA – 4,00,000Rs
Mrs Y(Housewife & age - 50)
House Hold Expenses – 5 lacks PA
Own house & Own business premises.
One house on rent & rent income is 20,000 per month.
A (D/O of Mr & Mrs X) Age 3 years
B(D/O of Mr & Mrs X) Age 1 year
Mrs x is suffering from Cancer.
Mr Y had gone for By-pass surgery when he was 50 year old.
All the saving are reinvested in the business. They don’t have any other fixed asset except
an old maruti 800 car.
Note – First assume all the possibilities before solving making any financial plan.


Please Solve it.