Question

Mr. Mohit Kapoor has income under the head salary 75,000, income from long term capital
gains 2 2.10.000 and Lottery Prize 35000. Maximum amount of deduction under Ch. VIA she
be
​

Answer 1

Answer:

Mr Mohit kapoor has incomes under 75,000

Income of long term capital gains 2.2.10.000

And the lottery prize is under 35,000

Explanation:

now see this one

Mohit sir salary 75 000

Capital gains 2.2.10.000

And lottery prize is 35000

now. 75000

+ 2.2.10.000

35000

_______

= 110,002.21

so the the maximum deduction under Ch VlA is

110,002.21

plz mark me as a brainiest

Answer 2

Answer:

The answer is INR 1,50,000.

Explanation:

i) According to the Chapter VI A of Income Tax Act, maximum deduction limit is Rs. 1,50,000 or 10% of the total salary, whichever is lesser.

ii) Total salary of Mr. Kapoor

= 75000 + 2210000+ 35000

= INR 2320000

iii) 10% of total salary = INR 232000

iv) Since 2,32,000 is more than 1,50,000, the maximum amount of deduction under Chapter VI A will be considered as INR 1,50,000.

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