My income tax assessment

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Your total tax liability will be 146453.

If you need any help in filing your ITR do let me know.

Hi,

Hope you are doing well !!

You tax liability will be RS. 1,95, 624 after considering standard deduction of RS 40000 and set off losses of RS 8000 from house property .

If you need any further assistance, please let me know.

Hi,

Your tax liability can be better ascertained once you receive your from 16 from your company because we will need break-up of salary and various other things to determine the tax liability.

Hi,

Your taxable Income  would be Rs. 10,94,400 and tax liability would be Rs.1,46,450.

Thanks

Hello,

Total Income = 10,94,400 /-

Tax Liability =     1,46,450 /-

*considering standard deduction of 40,000 from salary income.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Hi,

PFB Working for your reference :

Income from Salary (A)

             1,450,000

Gross rent

                192,000

Less : 30% std. deduction u/s 24(a)

                 (57,600)

Less: Interest on Home Loan(Max. 2,00,000)

               (200,000)

Income from House Property (B)

                 (65,600)

Gross Total Income (A + B)

             1,384,400

Less : Standard Deduction

                 (40,000)

Less : Deduction u/s 80C (Max. 150000)

               (150,000)

Total Taxable Income

             1,194,400

Tax on Above Income

                   70,820

Add : Education & SHEC @ 4%

                     2,833

Total Tax Liability

                   73,650

Note : If your salary contains HRA, LTA component then the exemption on the same can be claimed as per law if applicable.

Hope this resolves your queries.

Hi

Please share your Form 16 for accurate calculation.

Hello Sir,

We require the Form 16 for exact tax liability.

However, on the basis of above information, you tax liability will be Rs. 1,77,653 (including cess).

Your taxable income would be Rs 11,94,400/-