I am individual person & resident in india , my total income after deduction 80c,80d,80tta come rs. 4,99,200.00 for the Financial Year 2019-20 , now I will want to file my IT returns 30/03/21 how many tax paid against this please calculated.....
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 29 March 2021
Your tax liability will be nil after rebate of 12500 rupees
Kapadia Pravin
(17259 Points)
Replied 29 March 2021
Tax rebate is upto income of 5 lakhs. so tax liability will be nil. But return filing is mandatory with 1000 penalty under 234F
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 29 March 2021
No tax liability arises on such income. However if you have income from Capital Gain , you have to pay tax upto Rs. 12500+EC
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