Question ID :
38068
Punjab development Tax 2018
Punjab Govt has notified Punjab development tax for Persons having income more than 250000- Can any body confirm whether this amount is before availing Chapter VI deductions or after deducting deductions like 80C
Posted by
Mahesh Kumar
on
Mar 31, 2019
Filed Under
GST
The act says basic exemption limit under income tax . so Income tax is applicable if your net income exceeds Rs 2.5 L . which we work out after considering all the deductions .say taxable income. so this 2.5 L is after 80C deduction
Posted by
CA. BISHT RAKESH on
Apr 01, 2019
Answer ID :
76445
Before availing deductions under Chapter VI.
Posted by
CA. JHA SHANKAR KUMAR on
Apr 02, 2019