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Old Tuesday, August 14, 2012
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Originally Posted by rushna khalil View Post
Sir even for the taxable income, we require the current tax far as I know the tax slabs are revised every even though you are required to calculate taxable income only, then also u must have the knowledge of current tax slab....anyways thanx for ur answer......n mu next query is whether taxable income is the net income after tax exemption or before exemption.....if t is before exemption then surely we dont need to have a knowledge of current tax slabs.....i will be thankful to u if u clear dis point...
no tax slabs required for calculation of taxable income and thats 100% sure. And taxable income is after deduction of all exemptions from the income. However tax credits required knowledge of slabs, and examiner normaly does not ask about that. Start your preparation you will get 16-20 even if you do not calculate the tax payable.
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