How income is tax free up to 3,00,000
This query is : Resolved
03 February 2017
Please tell me how income is now tax free up to 3,00,000 in detail with example.
06 September 2017
upto 250000- no tax
250000-500000 lac - 5%
thus upto 3 lac, tax will be 50000*5%= 2500
rebate u/s 87a = 2500
so tax upto 3 lac will be nil
250000-500000 lac - 5%
thus upto 3 lac, tax will be 50000*5%= 2500
rebate u/s 87a = 2500
so tax upto 3 lac will be nil
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