sujit naha (accountant) (350 Points)
26 November 2016Husband - income 250000/- /// Wife Income 250000/- //// Son Income 250000/- //// Daughter Income 250000/- in One year
They deposited the same amount in their own bank account in one year
My question is have there is applicability Income Tax on their personal Income ??
If yes then clarify please....
If no then my question is can Income Tax treated as Total Familiy Income for impliment of Income Tax
Please reply... thanks
Pan Verification
(MBA)
(29 Points)
Replied 26 November 2016
Income tax will be paid only by the person who are employe in a company or self employed, just
Deepak Rathi
(surat)
(42 Points)
Replied 27 November 2016
Income tax is applicable on income which is earned by salary, business professional and any other source if it exceeds 250000 then tax is calculated....
CA Neha Agrawal
(CA)
(830 Points)
Replied 27 November 2016
Tax is not calculated on family income. It is calcualted on individual income.
prashantkumar
(CA final)
(96 Points)
Replied 30 November 2016
pancardstatus
(Student)
(22 Points)
Replied 14 February 2017
Income tax will be paid only by the indian person who are employe in a company or self employed, just check online pan card status here.
CAclubindia
