Ms. Ankita completed her MBA from DAVV, Indore. She joined an enterprise as an
Accounts Manager at a CTC of Rs 650000. She invested Rs 150000 in PPF and paid
mediclaim for herself Rs 15000 using cash as a mode of payment. Discuss and compute her
tax liability assuming she is residential individual for the Assessment year 2019-20

Answer in 1200 words with proper Introduction, Concepts, and Application related to the question and Conclusion.

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As per Income Tax Act 1961 There are deductions allowed under Chapter VI A comprising of various sections applicable to the given scenario are discussed below Section 80C For investments in specified ... View the full answer