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Income tax 2020-2021

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(Querist)
05 August 2021 Dear Sir

Can i need to pay income tax may annual income is rs.624000/- in which i have deposit RS.150000/- In PPF account.
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Ankit Neema

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Ankit Neema (Expert)
05 August 2021 No income tax liability, in case you have net income less than 5L,
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 August 2021 You need to pay income tax on income exceeding 5 lacs. No deduction allowed when you choose new scheme of 5 lacs exemption.
@ Ankit Neema correct your reply.




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