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(Querist)
31 July 2010 HI EVERY BODY,
I WOULD LIKE TO KNOW IF MY SALARY IN A YEAR IS 235000.00,WHICH I INVESTED RS. 80000.00 IN LIC..WHERE I COME TAX LIABILTY OR NOT?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
31 July 2010 No tax liability
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
31 July 2010 AGREED THERE IS NO TAX LIABLITY BUT YOU HAVE TO FILE RETURN.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
31 July 2010 F.y.2009-10 (235000-80000 = 155000) no tax liability
F.y.2010-11 (235000-80000 = 155000) no tax liability

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