Income Tax Returns up to 5.00 Lakhs exemption

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Kanakarao (Querist)
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19 June 2011 Dear All... Recently Income Tax Department Exempted file returns up Rs. 5.00 Lakhs of income.. What about Tax above Rs. 1,80,000/- income? Do they havent pay income Tax..? What is the income Tax liability if a person earn Rs. 5.00 Lakhs in the FY-2011-12. Kindly clarify my doubts... with hopes

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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19 June 2011 That Exemption is only for salaried persons whose total income is less than Rs. 5 Lakhs and he shows his other income income to his employer to deduct TDS.
this exemption is only for tax return filing not for income tax liability.

For any query and Online Income Tax return filing (e-filing) contact:
ABHISHEK RANJAN SINGH
ARS Solutions
+91 9022838615
email2ars@gmail.com