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Hi
May i know i 2 avoid Income Tax.I am getting 1,20,000PA
and a house rent of 5000PM,and profit from Agriculture
Income of 80,000.Is agriculture Income taken into
consideration.If so how 2 calculate further & how much will
b the Income TaxI will b getting.
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Answer Posted / yash
U R MONTHLY SALARY IS =10000 PM
AND HRA RECEIVED = 5000 PM
IF UR HOME IS SAME CITY MEANS
ALL AMOUNT IS TAXABLE
EXAMPLES : 10000+5000=15000 PM IS TAXABLE AMOUNT IN CASE
OFFICE AND HOME IN SAME CITY
TOTAL TAXABLE INCOME=15000*12=180000
150000RS = NIL
(180000-150000)= 30000*10%
= 3000 RS TAX AMOUNT
AND AGRICULTURE INCOME IS FULLY EXEMPTED.
| Is This Answer Correct ? | 3 Yes | 2 No |
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