computataion of income tax on excell sheet in ITR-2

Share
Share This Thread
  1. khannajk

    khannajk New Member

    After filling all the sheets in the ITR-2 ( excell ), when the request was made to compute tax the tax computed was 68184 on the taxable income of 740920 which i think is wrong
    740920 minus 3 lac (senior citizen) comes to 440920 the 10% comes to 44092
    that too without taking into consideration of sec 87

    Can anyone help me to find out the exact picture before i go for validating

    thanx
     
  2. ZED

    ZED Well-Known Member

    68184 is correct.
    Upto 300,000 NIl
    Next 200,000 @ 10% -Tax 20,000
    Next 240920 @ [email protected] -Tax 48,184

    Total = 68,184
    Rebate u/s 87 is not available since the total income has exceeded 500,000.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Income Tax on sale of a house Income Tax Jul 17, 2018
Is income from car pooling considered as Income from other sources? Income Tax Jul 15, 2018
Does Google Adsense income falls under section 44AD ? Income Tax Jun 21, 2018
Income tax for AY 2019/20 Income Tax Jun 7, 2018
Equity income when filing under Section 44ADA Income Tax May 8, 2018