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Salary income


Akash Aru   20 September 2020

Akash Aru

 3 points

| My Other Post

My brother salary income for this year will
Gross income 397030
deduction (PF and PT) 16000
Net income. 381030
So Will he need to pay tax on above 2.5lakh?
if yes, how he can save it?
if not, which tax system suitable for him if his income in next year will be more than 5 lakh nearly 7 lakh?

avater

Sagar Patel (Tax and Business Consultant)     20 September 2020

Sagar Patel
Tax and Business Consultant 
 985 likes  11091 points

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If in F.Y 2019-20 your income is 3,81,030 than you will get rebate u/s 87A and after that rebate your tax liability will be NIL....
So, In General if your income below 5,00,000 than you are not required to pay any Income tax.

prasad Nilugal   20 September 2020

prasad Nilugal

 127 likes  1967 points

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Since his income is more than 250000/- he has to file his income tax return , even though Tax is nil .

avater

sabyasachi mukherjee   20 September 2020

sabyasachi mukherjee

 155 likes  4132 points

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Akash


file your return.

avater

Akash Aru   20 September 2020

Akash Aru

 3 points

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Sure,
thanks


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