A person having a turnover /receipts of Rs.24 lacs in F.Y.2010-11. he will get deduction of Rs. 40k u/s 80C.
Whether he will get full amont of TDS deducted as a refund ?
1 Replies
Murtaza I Bhagat
(Tax & Finance Consultant)
(10533 Points)
Replied 17 April 2012
if your income is less then income tax slab as per your category then yes you can received full tds as refund
if your gross receipt is subject ot sec. 44AD then your deemed profit for 24Lacs is Rs. 192000 less investment 80C 40K = 152000/- if individual male or female then your tds become refund
otherthan these you have to ask again...
thanks
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