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    Niwas Kumar Verma's income tax return for AY 2023-24 shows a total income of Rs. 3,78,635 consisting of a salary of Rs. 2,50,000 and other income of Rs. 1,28,635. After deductions, the net total income is Rs. 3,78,635 on which the tax liability is Rs. 6,432. However, with TDS of Rs. 2,182, there is a tax refund of Rs. 2,180.

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    Niwas Kumar Verma's income tax return for AY 2023-24 shows a total income of Rs. 3,78,635 consisting of a salary of Rs. 2,50,000 and other income of Rs. 1,28,635. After deductions, the net total income is Rs. 3,78,635 on which the tax liability is Rs. 6,432. However, with TDS of Rs. 2,182, there is a tax refund of Rs. 2,180.

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    Niwas Kumar Verma's income tax return for AY 2023-24 shows a total income of Rs. 3,78,635 consisting of a salary of Rs. 2,50,000 and other income of Rs. 1,28,635. After deductions, the net total income is Rs. 3,78,635 on which the tax liability is Rs. 6,432. However, with TDS of Rs. 2,182, there is a tax refund of Rs. 2,180.

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    9 views1 page

    Computation

    Uploaded by

    sneh.officialwork
    Niwas Kumar Verma's income tax return for AY 2023-24 shows a total income of Rs. 3,78,635 consisting of a salary of Rs. 2,50,000 and other income of Rs. 1,28,635. After deductions, the net total income is Rs. 3,78,635 on which the tax liability is Rs. 6,432. However, with TDS of Rs. 2,182, there is a tax refund of Rs. 2,180.

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    of 1

    AY 2023-24

    Income Tax computation of Niwas Kumar Verma for the A.Y 2023-2024

    I Income From Salary 2,50,000

    II Income from House Property


    Self Occupied
    Interest Paid (Upto Rs 150000) -
    Let Out Property
    Rent Received
    Less: Municipal Taxes
    GAV -
    Less:30% deduction -
    Less: Interest paid (No limit) - -

    III Income from Business/Profession


    Net surplus -

    IV Income From Capital Gains


    Short Term Gains
    Sale Consideration
    Less: cost of purchase
    Less: Selling expenses -

    Loss to be carried forward

    Long Term Gains


    Sale Consideration
    Less: Selling expenses
    Less: Indexed Cost of acquisition - -

    V Income From other sources


    Bank Interest
    Any other 1,28,635 1,28,635

    Gross Total Income 3,78,635

    Less: Deductions
    U/s 80C,CCC,CCD
    Tax saving Investments

    U/s 80 D
    Mediclaim
    Other 80G, 80E, 80U -

    Net Total Income 3,78,635


    Rounded of Income 3,78,640

    Tax on Short term gains - -


    Tax on Long term gains (with Indexation) - -
    Tax on Normal Income 3,78,640 6,432 6,432
    Rebate u/s 87A 6,432

    Add: education Cess

    Total Tax Liability -


    Less: TDS 2,182
    Advance Tax
    Self assesment Tax 2,180

    Tax Payable/ (refund) (2,180)

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