80 C,80D,80DD,80TTA-Comprehensive Problem with Deductions Mr. Mohan submits the following information Basic Salary 1,60,000 Bonus 30,000 Commission 50,000 Income from HP(Computed) 3,20,000 Interest on Bank deposits Deposits 90,000 Payments /Contributions 1. LIC Premium paid- Rs.10,000 2. Contribution to RPF-Rs.5,000 3. Rs.10,000 paid by cheque to GIC for insuring his own health 4. Medical Expenditure of father of 80 years of age- Rs.40,000 5. Medical treatment of his dependent handicapped brother -Rs.15,000 Answer 1.Income From ...
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80 GG- Comprehensive Problem Mr. Raman furnishes the following information for the P.Y.2024-25.Compute his taxable income under Old Regime and New Regime. Professional Gain Rent Received Municipal taxes Long term capital gain on sale of a plot Part time salary as a lecturer Rent paid at Kanpur Interest on government securities 5,00,000 18,000 p.a. 1,500 p.a. 10,000 1,64,000 6,000 p.m. 29,000 He Deposited Rs.15,000 in PPT account. Solution Calculation of Taxable Income under Old Tax Regime 1.Income From Salary Part time Salary Less: Standard Deduction u/s16 1,64,000 50,000 1,14,000 2.Income from House Property Gross Annual Value Less: Municipal Tax ...