If gross salary is Rs. 2,52,000
Receipts from services rendered 80000 ( presumptive income case) out of which tds was deducted @ 10% ( Rs. 8000)
Interest in savings bank account was Rs. 8000
Dividend Income : 9000
LTCG u/s 112A is Rs. 577000
Broght forward LTCG : (1,29,000)
Brought forward STCG : (6000)
Tuition Fee : 40000 Rs.
if anybody could help with the tax calculation under old tax regime or new tax regime please
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Hey @Saksham2,
The income from salary, business, interest, dividend and tuition which totals to ₹3,89,000 will be taxed as per the slab rate. You’ll be eligible for a standard deduction of ₹50,000 on salary under both regimes.
You can refer to this article for the tax rates on different slabs under the old and the new regime.
Moreover, LTCG will be first adjusted against the brought forward STCL and LTCL and hence, the net LTCG for the year will be ₹4,42,000. After the ₹1L exemption on LTCG, your taxable LTCG would become ₹3,42,000. These will be taxed at 10% (provided the gains are from equity shares/equity-oriented mutual funds) and the tax liability would be ₹34,200.
As ₹8000 was already paid as TDS, this amount will be adjusted against your total tax liability.
Hope this helps!