Mrs. Latha furnishes the following information for the P.Y. 2024-25: (Ignore Alternative Tax Regime under Section 115BAC) Salary income ₹ 2,60,000 debenture interest ₹ 50,000 Donation to P. M. drought relief fund ₹ 12,000 Donation to public charitable institution ₹ 90,000 Other income ₹ 2,00,000, Long term capital gain ₹ 50,000, Contribution to PPF ₹ 1,00,000, Winnings from lottery ₹ 1,00,000. Donation to GOI for the promotion of family planning ₹ 30,000. Compute her total income. (Ignore Alternative Tax Regime under Section 115BAC)

Step 1: Income from Salary Gross Salary = ₹60,00,000 &Less: Standard deduction u/s 16(1) \\ &= ₹50,000 \\ &Net Salary \\ &= ₹60,00,000 - ₹50,000 \\ &= ₹59,50,000 Step 2: Income from Other Sources Savings bank interest = ₹50,000 Step 3: Capital Gains Long-term capital gain (LTCG) = ₹20,00,000 Step 4: Gross Total Income (GTI) GTI &= Net Salary + Savings bank interest + LTCG \\ &= ₹59,50,000 + ₹50,000 + ₹20,00,000 \\ &= ₹80,00,000 Step 5: Deductions under Chapter VI-A u/s 80C: PPF contribution = ₹1,00,000 u/s 80G: &P.M. Drought Relief Fund (100\% deduction) \\ &= ₹12,90,000 \\ &Donation for family planning (100\% deduction) \\ &= ₹30,000 \\ &Total u/s 80G \\ &= ₹12,90,000 + ₹30,000 \\ &= ₹13,20,000 u/s 80TTA: &Deduction on savings bank interest \\ &= (₹50,000, ₹10,000) \\ &= ₹10,000 Total Chapter VI-A deductions: &= ₹1,00,000 + ₹13,20,000 + ₹10,000 \\ &= ₹14,30,000 Step 6: Total Income Total Income &= GTI - Chapter VI-A deductions \\ &= ₹80,00,000 - ₹14,30,000 \\ &= ₹65,70,000