tax calculation

hi pankaj my long term capital gain is 40,00,000 pension 200000 other income 30000 . my age is 80+

pls help to calculate my income tax.

asked Jun 01 '11 at 03:36 by puneet 1222


In case you are asking about financial year 2011-12, you will be taxed @ 20% on (42,30,000 - 5,00,000) as upto 5 lakhs there is no income tax for people above age of 80.

For FY 2010-11, You will be taxed @ 20% on (42,30,000 - 2,50,000).

answered Jun 01 '11 at 12:21 by pankaj 5.2k320

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Asked: Jun 01 '11 at 03:36

Seen: 1,464 times

Last updated: Jun 01 '11 at 12:22