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Sir , in this sum , his Taxable income is 255000 but they ask for chargeable income . So , we deduct basic exemption limit . Is it correct sir ?

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Srini Sriram

Srini Sriram

CA Inter

3K+

19-Sep-20

54

Answers (17)

No. Total income or taxable income without considering exemption limit.


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Sep-20

Then in this sum , the ans is 5000 . How this will arrive ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

20-Sep-20

Interest income - 15,000 Less : Deduction 80TTA - 10,000 Taxable income - 5,000 How did you get 255000?


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Sep-20

Dividend income sir .


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

20-Sep-20

Thread Starter

Srini Sriram

Dividend income sir .

Did he's a non resident and received outside , so it's not taxable ? Sir


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

20-Sep-20

Sir , upto 1000000 is exempt but balance ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

20-Sep-20

Sec 10(34) or some other ? Sir .


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

20-Sep-20

Yes.


Suraj Lakhotia

Suraj Lakhotia

Admin

21-Sep-20

Sir , Did for all assessee dividend income is fully exempt ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

23-Sep-20

Suraj Lakhotia Admin

Yes

Why sir ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

23-Sep-20

Thread Starter

Srini Sriram

Why sir ?

Read 10(34) any income by way of dividends referred to in section 115-O 115-O talks about DDT.


Suraj Lakhotia

Suraj Lakhotia

Admin

24-Sep-20

What if , in this case , he is a resident ? Did upto 10L is exempt and balance is charged u/s 115BBDA ?


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

24-Sep-20

Is this in amendment ? Sir


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

24-Sep-20

Sorry my bad. for resident - above 10 lakhs is taxable.


Suraj Lakhotia

Suraj Lakhotia

Admin

25-Sep-20

Suraj Lakhotia Admin

Sorry my bad. for resident - above 10 lakhs is taxable.

No problem sir . Thank you sir .


Thread Starter

Srini Sriram

Srini Sriram

CA Inter

3K+

25-Sep-20

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