Anil, aged 82 years is a retired Govt. Servant and a resident of Delhi, for the previous financial year 2020-21 his income during the year from different sources is as under : 1. Pension from the Govt. of India: ₹58,000

Computation of Tax Liability of Mr. Anil for the AY 2021-22 Particulars Amount (₹) Amount (₹) 1. Income from Salary Pension received from Govt. of India (₹58,000 x 12) 6,96,000 Less: Standard deduction u/s 16(ia) (50,000) 6,46,000 2. Income from House property Rent Receive from House Property (₹30,000 x 12) 3,60,000 Less: Municipal Tax (12,000) Net Annual Value (NAV) 3,48,000 Less: Standard Deduction u/s 24 @ 30% of NAV (1,04,400) 2,43,600 3. Income from other sources Interest from SBI on Saving Bank A/c 4,000 Interest from a Co-operative Society Bank on Saving bank account 3,000 Interest from SBI on Fixed Deposit Receipts 46,000 53,000 Gross Total Income 9,42,600 Less: Deductions under chapter VI 80C Sukanya Smridhi Scheme (Max ₹1,50,000) 90,000 80TTB towards interest to Senior Citizen (Max ₹50,000) 50,000 80G Donation to PM Drought Relief fund (eligible for 50% deduction only) (₹51,000 x 50%) 25,500 (1,65,500) Total Income 7,77,100 Computation of Tax Tax on ₹7,77,100: Up to ₹5,00,000 (for super senior citizen, up to ₹5,00,000 is Nil) Nil ₹5,00,001 to ₹7,77,100 (i.e., ₹2,77,100 @ 20%) 55,420 Total Tax 55,420 Add: SHEC @ 4% (₹55,420 x 4%) 2,217 Total Tax liability 57,637 Rounded off [Section 288B] 57,640 Note: Deduction u/s 80C towards Sukanya Smridhi Scheme is allowed for minor daughter of an Individual and also allowed to Grand Parents who is legal guardian of minor granddaughter.