Income from salaries problems and solutions
WebLess 12% of salary(267300x12/100) 32076 8019. Allowances:Telephone Allowance 6000 Perquisites: RFA( House taken on rent and given to the … WebMar 23, 2024 · solution-3-continues Computation of total taxable income 1.Income from salary 780360 2.Income from house property (deemed income of transferor if property was transferred to minor for inadequate consideration u/s 64) 30000 3.Long term capital gains [150000- (80000*555/447)] index cost of acquisition to be used 51387 • Taxable income …
Income from salaries problems and solutions
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WebSep 12, 2012 · Calculate his income tax liability for financial year 2014-15 (Assessment Year 2015-16). Solution: Note: Mr. X is 45 years old and his income tax exemption limit for financial year 2014-15 is Rs.2,50,000/=. In above example his net taxable income is Rs.2,20,000/=. Therefore, he is not liable to pay any income tax. WebMay 1, 2024 · Moreover, computation of income from salaries is possible only if there is an employer-employee relationship. For instance, a firm has three active partners. Here, partners are not the employees of the firm but the owners. Hence the income comes under the income head of business and profession.
WebJul 20, 2024 · NGPASC COIMBATORE INDIA Scope of Total Income Computation of Total income of Mr. Mr. Devilal for the Assessment Year 2024-21 Particulars OR ₹ NOR ₹ NR ₹ Share of income from Joint Venture in India ₹ 10000 10000 10000 10000 Dividend ₹ 10000 NT NT NT Income from agriculture in Pakistan ₹ 20000 20000 NT NT Salary received in … WebJan 6, 2024 · The salient features of the present edition are:All the Problems and Solutions have been thoroughly revised in the light of up-to-date amendments in Income tax Law …
WebThe provisions pertaining to Income under the head “Salaries” are contained in sections 15, 16 and 17. Basis of charge (Section 15) Section 15 deals with the basis of charge. Salary is chargeable to tax either on ‘due’ basis or on ‘receipt’ basis, whichever is earlier. Web5 rows · Apr 14, 2024 · Mr. X, Corporate manager (Sales) in Vodafone ltd. receives the following income during the year ...
WebIncome From Salary Problems Theory And Solutions New 200809 Assessment Year 1222393780092207 8 Uploaded by: Ankit Dhyani December 2024 PDF Bookmark …
WebFirstsource Solutions Salary Slip Problems and Solutions in Income Tax (including Short Questions) - Dec 11 2024 The salient features of the present edition are: All the Problems and Solutions have been thoroughly revised in the light of up-to-date amendments in Income tax Law and Rules for Assessment Year 2024-23. scenes from the witchWebTopic No. 401 Wages and Salaries. All wages, salaries and tips you received for performing services as an employee of an employer must be included in your gross income. Amounts … scenes from the watcherWebMar 10, 2024 · It includes the full amount of pay before any taxes or deductions. Gross pay also includes any overtime, bonuses or reimbursements from an employer on top of … scenes from the wireWebJun 14, 2024 · This video includes the practical problem no 2 of Income from Salary A.Y. 2024-21 and its solution. About Press Copyright Contact us Creators Advertise Developers Terms Privacy … run these roads songWebApr 15, 2024 · This blog takes you through McKinsey Careers Off Campus Drive 2024 Hiring Freshers & Interns 2024 Salary 6 6 LPA - McKinsey Careers Off Campus Drive 2024 Hiring … scenes from the wildWebIncome from Salary 74,000 Note: Employee’s contribution to RPF is not taxable. It is eligible for deduction under section 80C. Problem No. 6 Computation of Income from Salary of … run the series av clubWebOct 10, 2024 · hey everyone,this is sachin here. welcome to my youtube channel - sachin education hub. all commerce notes are provided here. online classes also available :... run the service