Family income tax limit
This query is : Open
ahammed hussain
(Querist)
03 May 2017
When wife and husband having salary and other sources income above six lakhs per annum ,then exemption limit jointly Rs2.5 Lakhs or Rs 5lakks, The tax calculation will be as separate individuals or combined, please clarify.
Ankur Singhal
(Expert)
03 May 2017
Under income tax act every assessee is taxed individually.
you and your qife are separate assessee in the eyes of income tax.
you both will be taxed separately
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