I am individual person & resident in india , my total income after deduction 80c,80d,80tta come rs. 4,99,200.00 for the Financial Year 2019-20 , now I will want to file my IT returns 30/03/21 how many tax paid against this please calculated.....
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IT RETURNS FOR.Y.19 -20
Replies (3)
Your tax liability will be nil after rebate of 12500 rupees
Tax rebate is upto income of 5 lakhs. so tax liability will be nil. But return filing is mandatory with 1000 penalty under 234F
No tax liability arises on such income. However if you have income from Capital Gain , you have to pay tax upto Rs. 12500+EC
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