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INCOME TAX ASSIGNMENT B.COM 2nd YEAR || DU_SOL /NCWEB ASSIGNMENT SOLUTION 2020 || ASSIGNMENT ANSWER Q. No. 3rd ||

QUERY SOLVE IN THIS VIDEO :-

Q.3. Mr. Ishank is employed with the central government with effect from 10th August 2013.
His details of income and investments for the previous year 2018-19 are as follows:
Rs.
Income from salary 12,60,000
(Rs. 1,05,000 per month)
Loss from House Property 15,000
Income from other sources 1,10,000

He deposits Rs. 60,000 in public provident fund and pays Rs. 30,000 as tuition fees of his
younger sister studying in a school in Delhi. He also contributes Rs. 20,000 towards
ICICI's Retirement Benefit Fund. He donated Rs. 15,000 (Rs. 5000 in cash and rest via
online net-banking transfer) towards PM Cares Fund. He donated Rs. 2000 in cash to one
of local NGOs, (not registered under section 12AA). He contributes 15% of his salary
towards notified pension fund of central government. His employer also contributes the
equal amount to his pension fund. 12 years old daughter of Mr. Ishank earned Rs. 30,000
(eligible u/s 64(1A)). Wife of Mr. Ishank is a housewife and she earned Rs. 2,00,000 by
some handcraft work. Compute total taxable income of Mr. Ishank for the assessment year
2019-20.

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