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Personal Financial Planning NOVEMBER 18, 2010

Term Paper: (Term III -2010)


Topic: Tax Calculations

Subject: Personal Financial Planning


Submitted to: Mr.Lovey aggerwal
Submitted by: Devesh chauhan
Roll no: RT1902A05
Subject code: MGT 636

1 LOVELY PROFESSIONAL UNIVERSITY


MGT 636
Personal Financial Planning NOVEMBER 18, 2010

Particulars Amount

Income from salary 400000


Income from house property Nil
Income from business 400000
Income from capital gain 500000
Income from other sources Nil
Gross total income 1300000
Deduction under section 80c 50000
Total income 1250000

Tax calculated
On first 160000 Nil
140000 10% 14000
200000 20% 40000
750000 30% 225000
Tax payable 279000 279000
Edu cess @2% 5580
Shec @1% 2790
Total tax payable 287370 287370

2 LOVELY PROFESSIONAL UNIVERSITY


MGT 636
Personal Financial Planning NOVEMBER 18, 2010

3 LOVELY PROFESSIONAL UNIVERSITY


MGT 636