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Hi
May i know i 2 avoid Income Tax.I am getting 1,20,000PA
and a house rent of 5000PM,and profit from Agriculture
Income of 80,000.Is agriculture Income taken into
consideration.If so how 2 calculate further & how much will
b the Income TaxI will b getting.
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Answer Posted / azim
your income is 120000 pa
h ra is 5000*12
= 60000
40% on basic expmted - 48000/-
50% metro city_________
taxable income 72000/-
add: agr. income 80000/-
--------
total tax.incom 152000/-
icome tax @10% on 2000*10%= 200
expemtin agr.incomeis 80000*10%=8000
so your are not liable to pay tax
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