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When deadline to pay that income tax

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Querist : Anonymous

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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
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CMA Ramesh Krishnan

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

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CA PARAS BAFNA (Expert)
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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