How income is tax free up to 3,00,000
This query is : Resolved
Krishna Varshney
(Querist)
03 February 2017
Please tell me how income is now tax free up to 3,00,000 in detail with example.
POOJA SHARMA
(Expert)
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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