Gross Total Income - regarding.

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  1. Muthukrishnan

    Muthukrishnan New Member

    My total Salary was Rs.10,00,000/- lakhs for the year Asst. Yr.2016 - 17, Including Rs. 2,88,000 per year for house rent allowance from My company, and total TDS deduction Rs.128061 per year, I am living the city of Coimbatore in let out house by paying total Rs.96,000/-per year. I want to know what is my Gross Total Income and what is my Deductions under Chapter - VI-A as per Income tax Act and rules. And what is my refund amount after filing my return.

    Salary Total Rs.583939
    House rent allowance Rs.288000
    TDS Deduction Rs.128061

    Total Rs.10,00,000
    As per my Form No. 16 total amount paid/credited is Rs.893928.28, amount of tax deducted Rs.128060.52.

    Kindly explain me.

    Thanking you sir,

    With warm regards,

    K.Muthukrishnan.
     
  2. what i understood is...

    basic salary Rs. 5,83,939/-
    HRA: Rs. 2,88,000/-
    TDS : Rs. 1,28,061/-

    if so,

    you can claim HRA exemption u/s 10(13A) is Rs. 37,606/-

    Income from salary is Rs. 8,43,333 ( 5,83,939+2,88,000-37,606)

    Gross & Total Income (bcz no chapter VI details) is Rs. 8,34,330 (RO)
    Tax Payable is Rs. 94,622
    REFUND DUE is Rs. 33,440
     
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