Reply plz
This query is : Resolved
Guest
Guest
(Querist)
25 April 2012
gud afternoon sir,
i have a query that plz clear me that my calculation u\s 44ad is right or wrong
turn over- 24 lakh
profit @ 8%(2400000*8/100)= 192000
lic - 20000
than total income (192000-20000)= 172000
than my query is that my tax liablty will be nill
i have a query that plz clear me that my calculation u\s 44ad is right or wrong
turn over- 24 lakh
profit @ 8%(2400000*8/100)= 192000
lic - 20000
than total income (192000-20000)= 172000
than my query is that my tax liablty will be nill
CA PARAS BAFNA
(Expert)
25 April 2012
For the AY 2012-13, tax liability will be definitely NIL for any Individual or HUF assessee.
Message likes :
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Guest
Guest
(Querist)
25 April 2012
and sir can i take deduction of 80c
CA Prashant Gupta
(Expert)
25 April 2012
Yes it will be nil for AY 2012-13. You can take deduction U/c 80c
Murtaza I Bhagat
(Expert)
25 April 2012
yes agree with experts
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