Prakash (age 41 years), who is a resident in India, is a person with disability (disability below 80%), he provides the following particulars of his income for the year ended 31.3.2025: S. No. Particulars Amount (₹) 1. D
CS Executive · Tax Laws and Practice · PYQS · June 2025
Prakash (age 41 years), who is a resident in India, is a person with disability (disability below 80%), he provides the following particulars of his income for the year ended 31.3.2025: S. No. Particulars Amount (₹) 1. Dividend received from Domestic Company 1,78,000 2. Interest on government securities (gross) 46,000 3. Honorarium from school of orphanage for giving his part time service 50,000 He has donated ₹ 20,000 to the school for orphanage which is approved as a charitable institution and contributed ₹ 2,000 to Prime Minister National Relief Fund. He has deposited ₹ 20,000 in Public Provident Fund Account on 31.03.2025. He has also paid ₹ 3,000 by credit card as premium of Mediclaim policy of his dependent Son. His father is also a person with disability (disability below 65%) and is dependent on him for medical treatment and rehabilitation. Prakash spends ₹ 8,000 during the year on him. Compute the Total Income of Prakash for the assessment year 2025-26, assuming that he has not opted the default tax regime under section 115BAC of the Income Tax Act, 1961.
Answer & Explanation:
Computation of Total Income of Prakash for A.Y.2025-26 Particulars Amount (₹) Amount (₹) Income from other sources Dividend received from Domestic Company 1,78,000 Interest on Government Securities 46,000 Honorarium from school 50,000 Gross Total Income 2,74,000 Less: Deductions: Under Section 80C- Public Provident Fund 20,000 Under Section 80D- Mediclaim Insurance Policy 3,000 Under Section 80DD- Disability for Dependent father 75,000 Under Section 80U- Disability Himself 75,000 Under Section 80G- Donation Prime Minister Relief fund (100% of ₹ 2,000) 2,000 Orphanage School (50% of ₹ 10,100) 10% of ₹ 1,01,000 Rs. (2,74,000 - 20000+3000+75000+75000) 5,050 Total Deductions (1,80,050) Total Income 93,950
Topics: Income Tax
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