Knowing about return
This query is : Open
24 November 2017
I want to know that if i return my file 250000 and next year also return file 250000 then pls tell me that my capital would be 500000. And no taxable income which i return previously.
Ashiwini Ballodia
(Expert)
24 November 2017
Yes your capital will be 5 Lakhs provided you don't do any drawings
24 November 2017
But sir i want to know that if my capital is 5 laks then what will be my taxable income if i earn 250000 then last two year income will be added or not
Ashiwini Ballodia
(Expert)
24 November 2017
You taxable income will be 250000 but no tax because you income is below basic exemption limit
Ashiwini Ballodia
(Expert)
24 November 2017
It is assumed that you are asking question for Individual
Ashiwini Ballodia
(Expert)
24 November 2017
Most Welcome Mohit Ji
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