PRESENTATION ON

TAXATION IN INDIA.
 INTRODUCTION

•
 PURPOSE OF TAXATION

•
•
•

•
 INCOME-TAX

•
 SCHEME OF INCOME TAX.
• DETERMINATION OF RESIDENTIAL STATUS OF AN
ASSEES.

• TOTAL INCOME CALCULATION.

INCOME FROM SALARY
INCOME FROM HOUSE PROPERTY
PROFIT OR GAIN UNDER BUSINESS
INCOME FROM CAPITAL GAIN
INCOME FROM OTHER SOURCES.
ILLUSTRATION ON
COMPUTATION OF INCOME TAX
OF AN INDIVIDUAL Particulars Amou
nt(In
Mr. X, aged 45 years, Rupee
submitted the details of s)
his income and Income from salary 30000
investment for financial 0/=
year 2014-15,
Calculate hisas under: Interest from fixed deposits 15000
income tax liability with bank /=
for financial year Interest from personal loans 5000/
2014-15 (Assessment =
Year 2015-16). Interest from Public Provident 25000
Fund Account (PPF) /=
 COMPUTATION OF TAXABLE INCOME
PARTICULARS AMOUN AMOUN Note:
T(In T(In Mr. X
years is 45
old and
Rupees) Rupees) his income tax
exemption
Income from salary 300000/= limit for
financial year
Income from other sources 2014-15 is
Rs.2,50,000/=
.
Interest from fixed deposits 15000/=
with bank Inexample
above his
Interest from saving bank 5000/= net taxable
income is
account Rs.2,20,000/=
.
Interest from Public Provident NIL 20000/= Therefore, he is
Fund Account(Rs.25000/=) not liable to
pay any
Gross Total Income 320000/= income tax.
Less: Deductions under Chapter Interest on
Public