Tax exemptions for women entrepreneur

Is it not Gross income less expenses less savings under Sec 80 C contribute to net income of 2.5 that will be exempted

Suppose our Gross Income from class fees is       Rs 3,60,000/-

Less incurrred for running the classes

Rent, Telephone, Travel,Art Books and Materials etc  : 1,20,000/-

Net Income is                                                       Rs 2,40,000/-

Less Savings under SEC 80 C                                       50,000/-

Taxable income                                                    Rs  1,90,000/-*   

*This is less than 2.5 lacs so exempt.

Pls clarify

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An income tax return is required to be filed if the gross total income earned by you exceeds Rs 2.5 lakh. Gross total income is the total income before allowing any deductions under Section 80C-80U of the Income Tax Act.