Interested to Buy Any Domain ? << Click Here >> for more details...
My Annual salary 180000/- and house rent income 24000/- and
for 2009-10.LIC paid Rs 18000/- annual and 3500/- mediclaim
so please explain me with detals how caluclate the tax
which is paid to department. Please give all details of
calucation.
- 4 Answers
- 6391 Views
- I also Faced
- E-Mail Answers
Answer Posted / jagjit singh
Salary Income Rs.180000.00
Hose Rent Income Rs. 24000.00
Total Rs.204000.00
LIC Paid Rs. 18000.00
Mediclaim Rs. 3500.00
Taxable Income Rs.182500.00
Tax Calculation
upto Rs. 160000
160000-182500 = 22500
Total Tax is Rs.2250/-
| Is This Answer Correct ? | 10 Yes | 1 No |
Post New Answer View All Answers
Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?
Explain what is bad debt expense?
Is it mendatory to provide deferred tax asset, where the management not expecting taxable profit in the subsequent financial years.
What are the activities that are included in the cash flow statement?
can i material bill book in miro without vat on transport charges ?
Can you name different branches of accounting?
What are the steps to take before you approve an invoice for payment?
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.
Do you know compound journal entry?
Aptitude Test Questions
What are the disadvantages of manual accounting?
What do you mean by balancing of ledger account?
how to pass journal entries for reverse tax on input tax paid
There are two Business areas 1100 and 1200. I need to pick 1200 b.areaonly While enter the transaction? could any one please post the answer for this.
