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Computation of Total Income

Direct Taxation

Income from lottery Income u/s 111a /112 /112a As Above incomes are taxable at special rates So, we have to add above income in their respective heads or we can directly show tax calculation At special rates below the computation?


Hiren Ghadiya

Hiren Ghadiya

CA Inter

890

08-Feb-23

95

Answers (7)

After total income Show tax calculation for special income. Then normal slab calculation


Suraj Lakhotia

Suraj Lakhotia

Admin

08-Feb-23

Suraj Lakhotia Admin

After total income Show tax calculation for special income. Then normal slab calculation

So you mean We have to aggregate all income first?


Thread Starter

Hiren Ghadiya

Hiren Ghadiya

CA Inter

890

08-Feb-23

We have to show these income under respective head. Total income include these income. But on taxation part we have to tax at special rate after considering exhausted minimum exemption limit . Unexhausted minimum exemption not applicable on lottery income.


Mansha Tutlani

Mansha Tutlani

CA Final

520

08-Feb-23

Thread Starter

Hiren Ghadiya

So you mean We have to aggregate all income first?

For total income you have to sum up all income.


Suraj Lakhotia

Suraj Lakhotia

Admin

08-Feb-23

Ohk, I got it thanks both of you


Thread Starter

Hiren Ghadiya

Hiren Ghadiya

CA Inter

890

08-Feb-23

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CA Final

5

08-Feb-23

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