A man has income of 90 lakhs. On his 70th bday his ex wife gifted him a car worth 10 lakhs. On his daughter wedding he gifted him a flat 30lakhs. He won a lottery of 15 lakhs and out of happiness gifted hid current wife a diamond set worth 5 lakhs.
One of his existing policies got matured and he received an amount of 25 lakhs seeing his alling condition doctor adviced him to buy a mediclaim which costed him 25000 out of which 10000 was paid for medical test. He also invested 30000 in FD, 40000 in ELSS and bought a new policy of 20000. He also paid tution fee for his grandson costing 40000. Calculate his tax
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Answer:
70th bday his ex wife gifted him a car worth 10 lakhs. On his daughter wedding he gifted him a flat 30lakhs. He won a lottery of 15 lakhs and out of happiness gifted hid current wife a diamond set worth 5 lakhs.70th bday his ex wife gifted him a car worth 10 lakhs. On his daughter wedding he gifted him a flat 30lakhs. He won a lottery of 15 lakhs and out of happiness gifted hid current wife a diamond set worth 5 lakhs.
One of his existing policies got matured and he received an amount of 25 lakhs seeing his alling condition doctor adviced him to buy a mediclaim which costed him 25000 out of which 10000 was paid for medical test. He also invested 30000 in FD, 40000 in ELSS and bought a new policy of 20000..
One of his existing policies got matured and he received an amount of 25 lakhs seeing his alling condition doctor adviced him to buy a mediclaim which costed him 25000 out of which 10000 was paid for medical test. He also invested 30000 in FD, 40000 in ELSS and bought a new policy of 20000.