X submits the following details of his income from various heads during A.Y. 2012-
13 as follows:
Income from House Property ` 36,000
Income from Other sources ` 18,200
Income from business of manufacturing toys ` 3,20,000
Following additional information is available :
(1) During the year, he repaid ` 52,000 to State Bank of India, being loan taken for
purchase of his residential house. Out of ` 52,000, ` 48,000 is towards repayment
of principal & balance towards interest.
(2) He deposited ` 55,000 in PPF.
(3) He paid the following mediclaim insurance premium to New India Assurance
Co Ltd.
(i) his own health ` 6,000
(ii) on health of his spouse ` 3,400
Compute his total income for the assessment year 2012-2013.
Compute X’s Total Income
Notice: Undefined index: html5 in /home/bmsnewco/public_html/wp-content/plugins/facebook-comments-plugin/class-frontend.php on line 140
48 Comments