Comment on Taxation Simplified
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.