Question

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.

Answer 1

Answer:

700000

Explanation:

Mark as a so brilliant