Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

F.y 2015-16

Save Share

This query is : Open

afzal (Querist)
Follow

28 July 2017 Dear sir, I have a doubt that if an individual has annual income of Rs. 266320 and has Yes with Rs. 8114 and one of tax Consultant has filed a return ITR4S on 26.07.17 with refund of Rs. 8110.

I have asked a question to the Consultant as per It slabs Rs.266320 is taxable on 16320 with 10% I.e., 1632 will have to pay tax. But he stating that less than 5lacs slab is 270000 for fy 15-16 and fy 16-17 is 300000 is it correct or wrong plz, revert as soon as possible plz.

RAJA P M

RAJA P M (Expert)
Follow

28 July 2017 Yes. you are correct. But, Payable tax amount Rs. 1632 ll be less in Rebate amount it's Rs. 2000 available for some eligible criteria. So you can get the amount....

RAJA P M

RAJA P M (Expert)
Follow

28 July 2017 FY 16-17 the rebate amount Rs. 5000/-

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now