01.

Guk 10 erambles of income which are totally eXempled pom income tax & an example of income
which time part of tuai incorne blic s exempt from income tax act average rati

And. 1. Receitas com Hindu Undivided Farey (HUF) Any sum suceava by an individual as a mence of a
HUF, where He said sum has been bais out of the income of the family, or on the tase g an moautible
estate, usnete sucn sum

has been paid out of the income f the restau

belong to the family, is completely exempt to

income tax in Hi hands f dh indivisible

mendo el the family under section 100

2. Snare poem a traineeship põun

Undy the petitions of sect ten toon te

case of a person being & partner of a wem

nicht separately assessed as sichhu

share in the total income one gum is

completely exempt from income tax since

AY 1993-6.

3. Allowance for foreign ice

Any allowances on peatusuos paid or aluowee

ar such suicide india by the Government to a

citizen ej ndia ie Government to a

citiren al dia Hanging service outside india,

are commutely exempt som four aan

suten 1001).

4. Gratuities

hoe the peouiiony of section s0(40) of he ITAE,

any death-cum - Hetbument catuiry of a M.

servant is compuroly exempt on throne art

clever, in xlpict pivali sector employees

chatu received on but onene er oh béconorg

any ustved on toeneme of below

incapacitated

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5-Conutation oj pension

The enti anunt 0 any puno

peusion

me entere among anyubake ok any

S connotation of poulsen suom abortion

fund is exempt from income tax under šecton

ID(IDA) 11 Act

sE ne be noted here that the monthly pension

Cube by a pensione is, uable to flle

income tax ake any atre em salary or

income 8 no sardar dilution now

available in respect of pension received by a

tax payer

6. Life snuggle recipes

Om Section 10 (10p), any sum received under a

allocated way of bonus on such policy, Au

Life insurance Policy CLIP), including the sun

Loys Meceived br daith insured a fluid

insurance policies whether fun

on the

the Insurance corporation or any other way

Income tax.

Insurance company would bë exempt form

* Payment Received quem pounding funds

Unde Ale puoutsuru of stolioné 10c),(2),0nd

(13) any payment on a bput. oe pecooniaed

POlident und (PP) pe app coned cuporaruation

wn, ou PFL exempo mom income tax

scholarship o awarded ele

Any kind schn laranio guaranteed to meet the core

education exemsdom tax uno Sesion

A ny daily amarui Klied by a

Menu of Parliament oe by w MLAD ON

member dan committees ulianent or sale

ishoplarue aso exempl puom tax unde

elion to ()

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9. uiaend on charu and unila - cictimoCN)

com INCOME

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eden on chavez and units-section 10 (34)

wielu gbeat com Assessment Year 2004-05, the

dividend income a income of whils of mutual

fund received by the masseuse computely exempt

from income tax, payment.

10. Anoint united way out, etc. Seccion 10(29)

As per the finance (Ne 2) Act, 2004, oht, etc.

received a 1-0 2004 by an individual or ar

HUF wither in cash or by way of audit, ecc-

is being subjected to tar u te same is not

received on a Süsulated relative

Ducome which Form Paut of Total income Put u

Escape Room income Tax

Agi cultural Income

Under the passion of section 100) of the income

fucorn Income tax.

ar Act, inaugural Income unseren sc

02. License provision ruparing te set 00" "Carry

Lotus 4 cosce

Aus Et t Gt LoSses - Meani the world aroin

tu pijic/incence e the particulat year. Los ar

are not to abandon me in. He same year,

car be cauied ald to The subsequent year

cu Down :

vo Sous aucun in como el these you. Aset

6I An into- and step

Seue income can be sa h abnur income

tu artei solce de the same head f

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china head set it

nu tu uwe hud asuinuna, me tax pasyos can

Selo Me mainine su apario come tom

Bmer neads. tg.Loss from nose puppy can

be sit ey against salary income.

* Carry forward of LOVE

ALmaking uni appropriate and permissible ino-

head and in -Head adjustments, there could

still be adjusted these These unadjusted cofiel

can be carried cou word to pole year's or od

mens abpinurncome inese yedis.

TUL Huus as reball căry forward diler

slightly for aimpoint hadi ef income :

ROses uom Non- Speculative Business loss

- speculative Business hole

Specud Buinen nou unde 35ADE

- Capital Leisure

fom ouoning 4 maintain ka-noses.

03. What does the ability to advance tax arise ?

row it is compulls & paus. Explain with examples

ALLS Advance tax meant income tax anoulo be mine

in advance Encias a lump sum payment at

year end 'Lalo kuwal pay as you can

tax tuile payment have to be made in

instalimuti ai per audalis provided by me

Income tax department.

* youy tax taniwha for a year yar tuduáng

TAS is more nan 710,out you will be liable

you payment advance ray.

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Advance Tar should be

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Advance Tax should be paid by

- salaried, freelancers a businesses,

Presumptive income for businesses

- Presumptive income for Professionals

How to calculate Advance tax

Yar can be copied on the current income

at the Maas i force during the financial year.

Income Received in the previous financial

year can be taken as the taxable income for

the calculation of advance tax shiny

Advance Tax Calculation

• Determine the income - you receive other

then you salary

Minus the expenses - deduct your expenses

om uu income.you car deduct expenses

related to your work (freelancing)

Total the income- add up Other inCome

that you might receive the form of

ment, interest income, etc. Deduct the TDS

deducted from your Salaried income.

7otal Advance Tax

ure tox due exceeds Rs. 10,000 men you'u

have to pay advance tax.

4. compute au income of Mr. Ram changeable

under the head de salaries queen the following:

MH Ram rouned ABC Lid. on jo June 2017. Emoyeni

paid and benefits allowed by the company to

M. Ram are as fouons:

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Particulas

Amount e)

Basic salary

10,000

Dearness ALLOwance

20,000

Bonus

30,000

. punished accommodation In Deure belonging

to the company is powered glue. cost of panther

Here in 2300000

Molér car owned by the company along with

a chapel LOL epica a personal purpose.

• Salary of a super paid by the company

blot title chanteur for oracle

Petronas purpose R1,000 PM

e Education pounded york Ram's son weymouth

any fee. cost pursuing education by school

50 pm.

damicion fe to corporate nenbeusnip oa dub

mu Ram

paid f1,10,0D. tepete Compute net income of

Ald. computation of Income poonam salary of Mr.Ram

Preauricular
Amount

Baris Ry 40,000 XD)

Add : Dedunt Allowance (20,000ID)

Add: beavis (30 600 X10)

Add Table value o perquisite Mediated lo:

- Punished accommodation (E13500D-25, COD)

-Motorcar C4,800+ 900) x107

- Salary Sweeper (1,000x10)

27,000

- Eucahota parturie

Aravind leeds

NIL

NA

Nete: Calauy Loe the puunar i Computing Drablu

Value of rushed

Pauticutars

Baric salary

THEatres ObEisance

Amount )

2,00 500

3.00 poo

4 MH Ram clays in seui wnre population Umou

man 25.00.00 as per 2001 census

Valu efg unfurnished accommodation-IS%4 salary

=
€136,000

= 25,000

45. HE do vea, aviv ate annual value' a nose

corptd. Low durELU veeDars

ddu auction ae allenied Lom aua) Un LE in

computing me terrible income from noise pesA

Aus. Income fiona mouse Puspela u possible in these

cases-

•Lental Income on a ut sit properly

Auel value ela puspera hich is e deenes

to be wit out or criollos De

• Annual value q the pueseiliy which s seeley occupies

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Aual watue of the mouse popeyes sasia

On the bedouins facts

( ACCurate once Received or receivable

(8) Municipal wave - determined by the municipal

Authorities fou ying municipal taxes on

house peopeia

() Fair Rent - nene with a similar pusterty

can pitch in the same locality!

Standard Rent- it is tied under the Reno

Conao Act. U has been fixed por any

pLEBert undir my act, the pusher

crore be expected to ceca rent higher than

the standard tint fed

E) Expectia Rent itis me nigher value among

municipal ent value & face set subject

to a max. of standard rond

Computation of GMOs Annual of House Propecia

As pel 2311), the annual value of such houtput

shall be deemed to be

() expecta rent

are actuel vent

There can be the cases in Report to

let cut pupuH ie.

case 1- when the house properly is it our

for the competition politics year

cas 2 - when the house pucopou I u U

and was vacant you whole ou paus

of the previous year

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case 3- when are house property is let out for

part of the year and part of the year

Occupied you own asiaone

wnen ne Wouse puobeity s ut out for the

fet part of me year

paut

the 'year

occupied for own residence

Example:

Fai Reno C790,0UDX 12)

1080000

municipal value (2 72,000x 12864000

standard Rent ( 80.000X 12960000

Actual Rent (E 1,00,000 X8 $

Sop for 4 months) 8,00,000

suction: a) Fair Rent

b) municipal value

(scHooner of a orb

(d) standard Rent

Expected Revenue lower

1080000

tl Actual Rent

Guoss Valle Crusher gre ou

8,64,000

10,80 O00

9,60,000

9,60

9,60,000

WPS

3"

30
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Deduction Under tower property

al standard deduction - 36% of the Ner

Annual value calculated alone. This 30%

deduction is allowed even when you

actual expenditure or the puppy is higher

Dy tower

b deduction of interest on Home Loan for

the properly- Windows canaima

deduction f up to 2 lakhs on their home

loan & interest is me pune or his family

reside in the nose puppy The same

treatment appies usher the house is vacant