Dear Sir
In books of account Net Profit is Rs.632463/- apart we have deposit Rs.90000/- in PPF account and 55000/- Paid LIC so can I need to make provision for income tax, please suggest
Menu
Income tax liability 2020-21
Replies (6)
Yes Provision for income tax should be provided
If you have only above mentioned income and net income is less than 5L the no need
Yes, agree with Ankit. Taxable income is less than ₹5 lacs, so no tax would be payable.
Thank you Ankit Neema
Your Welcome Naveen Ji
Thank you Poornima madam
Recent Threads
- Who is responcible to pay GST Liability (If Servi
- Which Website is Best For PL-200 Exam?
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
- Purchase of business
Related Threads
CAclubindia
