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I think its time mods intervene, too many ret@rded posts lately. Even when there's a meaningful conversation like this one, some NLU reserved category kid will spew nonsense in the comments.
A 19-word comment posted 2 years ago was not published.
Does this mean that we can't invest the amount and claim them as expenses?
But I don't have enough expenses to spend 10L a year, i need to save
You are not taxed under the salary head of income tax, therefore slab rates are not applicable. We are taxed under the Profits and Gains from Business and Profession (PGBP) head and have a 50% presumptive taxation deduction
Suppose, I have an income of 20LPA and claim 50% as expenses. However, my bank balance stays more than 10 lakhs at the end of the year. Will that cause a problem?
A 2-word comment posted 2 years ago was not published.
Why would they? This place has now been hijacked by junior students and not even intelligent ones, who are posing as everything under the sun from aspirants and parents to law firm partners and judges. And then there are the trolls who are part of the IT Cells of course.
A 16-word comment posted 2 years ago was not published.
What's with most of the replies on posts on this forum being shitposts of late? Looks like no real person in the industry uses LI anymore. If you don't have anything useful to say, save everyone's energy and stay shut.
What slab do we fit in? What deductions can we get and what expenses can we claim?