ALL RESPECTED MEMBERS
F.Y.2019-20 NET PROFIT IS 600000
AND DEDUCTION IS 100000 SO WHICH TAX SLAB APPLICABLE
Regarding income tax slab
Kamlesh Tolani (accountant) (562 Points)
31 October 2019
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 31 October 2019
| Originally posted by : Kamlesh Tolani | ||
 |
ALL RESPECTED MEMBERSF.Y.2019-20 NET PROFIT IS 600000AND DEDUCTION IS 100000 SO WHICH TAX SLAB APPLICABLE |  |
Kapadia Pravin
(17259 Points)
Replied 31 October 2019
@ Tolani
Assuming assessee is Individual , tax slab will be (250001 to 500000) and hence tax will be @ 5% that is 12500/- , from that rebate under section 87A will be deducted by Rs 12500/- resulting into NIL tax liability. (assuming there are no disallowances from net profit)
FCA surbhi jain
(FCA)
(897 Points)
Replied 31 October 2019
For FY 2019-20 , there will be no tax liability.
As assuming net profit is after all disallowances. So according to tax slab
Upto 500000, there will be nil tax liability.
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