Tax slab for a.y. 2014-2015

This query is : Resolved

Ashish (Querist)
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07 February 2014 Confused......as per Income tax web site up to 220000/- is not falling under taxable income for male and female both.

Google search said up to 200000/- for male is not taxable income

Which one is correct 220000 or 200000?

AVTAR SINGH

AVTAR SINGH (Expert)
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07 February 2014 Rs. 200,000 is the exemption limit. But if the taxable income is upto Rs.5,00,000 then deduction from tax is available for Rs.2000 or actual tax whichever is less.

Ashish

Ashish (Querist)
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07 February 2014 2000 will be deducted from Quilifing limit of Rs.1 lakh u/s 80

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AVTAR SINGH

AVTAR SINGH (Expert)
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07 February 2014 It will be deducted from the tax u/s 87A.