respected members
in f.y.2019-20
net profit 650000
deduction 150000 (tax saver fd 80c)
so deduction allowed or not
3 Replies
sujith kumar dasa
(banglore)
(1496 Points)
Replied 06 February 2020
Deduction allowed and net tax would be zero as net income is 500000 or less than that
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 06 February 2020
Even though Tax is Nil ,he has to file Income Tax return for F.Y 2019-20
sujith kumar dasa
(banglore)
(1496 Points)
Replied 07 February 2020
Yes Income Tax Return has to be filed.
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