tx on speculation profit

Tax queries 485 views 1 replies

for  A.Y. 2010-11. calculation of tax If Assesse is Female

 

Profir from speculation transaction:-         300000

LIC Premium Paid                     100000

Deduction available u/s 80-U =100000

 

what will be income tax on Rs. 200000 or is deduction availble u/s 80-U to assesse. she has a prescribed certificate from doctor.

Replies (1)

Deduction of 80 U will be available to the Assessee.

Therefore, Income will be Rs.100000 that is below the Exemption limit i.e.,1.90 Lakhs


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