Taxable limit for huf
This query is : Resolved
25 September 2021
What is Taxable limit of Income for fy 2020-2021 for Huf and Individual? Are both have same limits?
25 September 2021
At present, the maximum amount not chargeable to tax under IT act for HUF and individuals below 60 years of age is Rs. 2,50,000/-
25 September 2021
Is Tax rebate available for Individual and Huf whose Income is above 2.5 Lakhs?
25 September 2021
Only to individuals....
Not to HUF...
Not to HUF...
25 September 2021
How much Tax rebate to individuals?
25 September 2021
You can claim an income tax rebate under section 87A if your total income does not exceed Rs 5 lakh in a financial year. Your income tax liability becomes nil after claiming the rebate under section 87A. (i.e. maximum amount Rs. 12,500/-)
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