Comment on Taxation Simplified

Nithin Kamath commented on 21 May 2013, 07:27 AM

You have made profits of Rs 4lks in trading and 50k in FD interest so total Rs 4.5lks

Your investment of Rs 1lk in PPF will reduce the taxable income to Rs 3.5lks.

On Rs 3.5lks the tax payable would be: Rs 15450

She has to file ITR 4 as Trading F&O is Business Income

You should not add her income in your income tax returns. Keep it separate.

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