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Tax liability
If my total income is exact ₹250000 then am i liable to pay tax and liable to file ROI ?
Replies (4)
If your total income is exactly 250000 then you don't have any tax liability. But it is good to file income tax return.
Even if my tax will be nil after getting rebate...bt is it taxable income?
@ viraj khodke
whether there is a tax liability or not....,
filing ROI is a good habbit:)
& there are other benifits attached to it,
for instance, you will get loans from banks, when you provide them ROI,etc
whether there is a tax liability or not....,
filing ROI is a good habbit:)
& there are other benifits attached to it,
for instance, you will get loans from banks, when you provide them ROI,etc
total income is computed after availing section 10 exemption and chapter viA deductions. so it's compulsory to file ROI even if your total income is either less than 2.5 lakhs or 2.5 lakhs after availing aforesaid exemptions and deductions.
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