jaya prakash (24 Points)
02 February 2019NTI ₹589000 kindly suggest me how to save tax for FY 2019-20/AY2020-21 ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184685 Points)
Replied 02 February 2019
No tax liability after claiming rebate u/s. 87A.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184685 Points)
Replied 02 February 2019
Assuming gross income before 80C deduction as Rs. 5.89 Lakhs
Sarath Rajendran
(Nil)
(2791 Points)
Replied 02 February 2019
if you are a salaried person you will get 50000 as standard deduction, deduction of Rs. 50,000 if you invested this amount in NPS, medical insurance policies related to your personal and also for your parents also help you to save tax
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184685 Points)
Replied 02 February 2019
Otherwise (12500+1760) + 4% cess
Sarath Rajendran
(Nil)
(2791 Points)
Replied 02 February 2019
Budget is not specifically said anything about Section 87 A
RS. 12,500 is only tax saved portion from exempted income limit Rs. 5,00,000 ( No change in section 87 A from the latest budget)
CAclubindia
