I am a Resident Indian pensioner, Sr citizen, 78 yrs old owning 2 flats (1 in Goa for self-use and the 2nd one in Mumbai given on rental)
Income for FY 2019-20 as follows: -
- Gross sal (pension) 474042
- Income from rental 204000
- Interest on FD 7904
- Interest on savings a/c 2075
- Dividend on listed shares 90
- Total 688111 (A)
Deductions/exemption
- Standard deduction 50000
- PPF contribution 150000
- Health insurance premium 36582
- 30 % Annual rental 61200
- Total 297782 (B)
- Taxable income A-B 390329 LESS 300000 = 90329
- TAX PAYABLE 4488
- Rebate u/s 87A 4488
- NET TAX Payable NIL
PLS ADVISE ITR FORM APPLICABLE.