Income tax exemption limit
This query is : Resolved
02 February 2019
Dear Sir,
As told in the Interim Budget that the tax slab has been increased from Rs. 2.5 Lac to Rs. 5.00 Lac, so does it mean individual having gross total income upto Rs. 5.00 Lac is not required to file IT Return from A.Y. 2020- 21
Thanks,
Abhishek Roy Choudhury.
As told in the Interim Budget that the tax slab has been increased from Rs. 2.5 Lac to Rs. 5.00 Lac, so does it mean individual having gross total income upto Rs. 5.00 Lac is not required to file IT Return from A.Y. 2020- 21
Thanks,
Abhishek Roy Choudhury.
02 February 2019
Slab is not changed. Relief u/s 87A is increased to 12,500 so that individuals,
< 60 years ,with taxable income of Rs. 5.00.000 need not pay tax, but to
file IT return.
< 60 years ,with taxable income of Rs. 5.00.000 need not pay tax, but to
file IT return.
Message likes :
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02 February 2019
Dear Sir,
Thanks a lot for your valuable reply.
Thanks,
Abhishek Roy Choudhury.
Thanks a lot for your valuable reply.
Thanks,
Abhishek Roy Choudhury.
02 February 2019
Dear Sir,
Another thing I want to know is whether Senior Citizens have to pay tax if his/her income is more than Rs. 3.00 Lac as per the Interim Budget.
Thanks,
Abhishek Roy Choudhury.
Another thing I want to know is whether Senior Citizens have to pay tax if his/her income is more than Rs. 3.00 Lac as per the Interim Budget.
Thanks,
Abhishek Roy Choudhury.
27 September 2021
Upto Rs. 5 lakhs total income, there won't be any tax liability, because of rebate.
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