SSI unit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2010 if a SSI unit creat income of Rs. 100000/- then what will be the tax, or income is exampt, or proprietors have to pay the tax on Rs. 100000 as his indivisual income

Ratan Sharma

Ratan Sharma (Expert)
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12 August 2010 For the A.Y. 2010-11 basic exemption limit for individual is Rs. 160000/-. Therefore if the income is only 1 lacs then no need to pay any income tax.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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12 August 2010 AGREED, IN CASE OF PROPRIETORSHIP , TAX WILL BE PAID BY INDIVIDUAL WHO IS THE PROPRIETOR OF BUSINESS.
I.E HE HAS NEED NOT TO PAY TAX ON RS.1 LACS PROFIT FORM UNIT IF HE HAS NOT OTHER INCOME AND IF HAVE THEN IT IS BELOW RS.160000/-.

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Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2010 thank u sir