SUNNY (STUDENT CS) (377 Points)
29 May 2010what is amount of tax payable for the financial year 2009-10 for an individual prop.if amount
profit is 545229
& deduction is
lic 61661
ppf 25000
tution fee of two child 14500
mediclaim 5796.00
advance tax detail is
10000 sep 10
10000 dec 14
8000 mar 15
bhagyalakshmi
(learner)
(141 Points)
Replied 29 May 2010
| Originally posted by : DEOL SUNNY | ||
 |
what is amount of tax payable for the financial year 2009-10 for an individual prop.if amount profit is 545229 & deduction is lic 61661 ppf 25000 tution fee of two child 14500 mediclaim 5796.00 advance tax detail is 10000 sep 10 10000 dec 14 8000 mar 15 |
 |
Profit-545229
Less:80c-100000
Less:80D-5796
Total Income:439433
Tax Liability:439433-300000=139433
=14000+(139433*20%)
Tax Amount Payable=41890
SUNNY
(STUDENT CS)
(377 Points)
Replied 29 May 2010
what is amount of interest under section 234 a b & c
if we fill return on 20 th july
bhagyalakshmi
(learner)
(141 Points)
Replied 29 May 2010
Tax liability=41890
Add:E.c=838
Add:SHEC=419
Total:43143
Less:Advance Tax=28000
Add: Interest:
U/s234B=604
U/s234c=412
Total Tax Payble=16159.
Correct me if i m Wrong......
Krutesh Patel
(ACA)
(727 Points)
Replied 29 May 2010
Rs.15857 including interest of 714u/ 234b & 234c
bhagyalakshmi
(learner)
(141 Points)
Replied 29 May 2010
Hi krutesh,
Is the tax payable of Rs.15857 Correct if the return is filed on 20th July......??
Bala
(Student)
(498 Points)
Replied 30 May 2010
Yu are correct except in 234C calc.,
Due Date Advance tax payable Cumulative Advance Tax paid Difference Inerest @ 1% p.m
15th Sep 30% * 43143=12943 10000 2943 88 (3 months)
15th Dec 60% * 43143=25886 20000 5886 177(3 months)
15th Mar 100% * 43143=43143 28000 15143 151(1 months)
Total Interest u/s 234C = Rs. 416.
CAclubindia
