Tax slab for a.y. 2014-2015
This query is : Resolved
07 February 2014
Confused......as per Income tax web site up to 220000/- is not falling under taxable income for male and female both.
Google search said up to 200000/- for male is not taxable income
Which one is correct 220000 or 200000?
Google search said up to 200000/- for male is not taxable income
Which one is correct 220000 or 200000?
AVTAR SINGH
(Expert)
07 February 2014
Rs. 200,000 is the exemption limit. But if the taxable income is upto Rs.5,00,000 then deduction from tax is available for Rs.2000 or actual tax whichever is less.
07 February 2014
2000 will be deducted from Quilifing limit of Rs.1 lakh u/s 80
AVTAR SINGH
(Expert)
07 February 2014
It will be deducted from the tax u/s 87A.
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