An individual whose gross income is 164000.00 for the f.y. 2010-11 but still he did not pay tax and he has no investment. Above said individual is a salaried person. He has no business.
Tell me sir he can file income tax return without paying any interest on tax and penalty.
07 October 2011
Out of Rs164000/-, you need to deduct amounts eligible under Sec 10... for example Conveyance All, HRA, Med ALL, LTA, Child Edu All, Hostel All, etc.
If in business, then take benefit of indirect expenses...
If you take benefit of the above, you can easily escape tax on Gross Income of 1.64
CAclubindia
