Is there any latest circular issued by the I.Tax Authorities regarding Income tax rates mentioned that Income for other individual is is exempt upto Rs. 50,0,000.
Menu
Tax Liability
Replies (3)
No IT department has not issued any such circular. But They have issued a notification " notification no 36/2011" stating that certain specified individuals whose income is less than 5 lakhs are not required to fill ITR for A.Y. 2011-12.
Agree with Suman...
Further added that the new slab rates for the A.Y.2012-13 would make the basic exemption limit of Rs.5,00,000/- for Very Senior Citizen (age above 80 years).
| Originally posted by : Vikas Vishwakarma | ||
 |
Agree with Suman... Further added that the new slab rates for the A.Y.2012-13 would make the basic exemption limit of Rs.5,00,000/- for Very Senior Citizen (age above 80 years). |
 |
AGREED.
Recent Threads
- A Restaurant registered under the Composition Sche
- GST RATE OF OUT DOOR CATERING
- Non resident taxation & income tax in India
- GST Rate for oral Hygiene Combo Pack
- GST registration - Address error
- TDS on property pu
- Import of goods IMS action related
- Incometax Survey - Updated Return Filing after the
- TCS under 206C(1F)
- Effect on Cost of Control when Bonus Issue is from
Related Threads
CAclubindia
