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
Kamlesh Tolani (accountant) (562 Points)
31 October 2019ALL RESPECTED MEMBERS
F.Y.2019-20 NET PROFIT IS 600000
AND DEDUCTION IS 100000 SO WHICH TAX SLAB APPLICABLE
RAJA P M
("Do the Right Thing...!!!")
(127977 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.
CAclubindia
