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Guest

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Guest (Querist)
25 April 2012 gud afternoon sir,
i have a query that plz clear me that my calculation u\s 44ad is right or wrong

turn over- 24 lakh
profit @ 8%(2400000*8/100)= 192000
lic - 20000
than total income (192000-20000)= 172000
than my query is that my tax liablty will be nill
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
25 April 2012 For the AY 2012-13, tax liability will be definitely NIL for any Individual or HUF assessee.
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Guest

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Guest (Querist)
25 April 2012 and sir can i take deduction of 80c
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
25 April 2012 Yes it will be nil for AY 2012-13. You can take deduction U/c 80c
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
25 April 2012 yes agree with experts

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