When deadline to pay that income tax

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2011 sir i need some doubts for income tax return.
actually we are runing one small comercial concern.i need limitation for tax pay

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 August 2011 you need to find out the income as per computation of Income from business and need to pay tax

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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18 August 2011 Limitation for Tax pay...

Upto 1.60 lacs tax is not required to be paid. If your income is between 1.60lac to 5.00 lac you have to pay 10% tax on the amount exceeding Rs 1.60 lac.

Further you can file your return under presumptive scheme. You have to declare 8% profit on your sales or gross receipts.

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