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what is exemption of income tax in case of huf and a firm
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Answer / viswanatha
For any other individual, every Huf/aop/boi/ artificial juridical person
up to Rs. 1,60,000/-
Rs.1,60,000/- Rs.3,00,000/- 10%of (total income minus . Rs.1,60,000/-)
Rs.3,00,000/- 5,00,000/- 20%
RS.above 5,00,000/- 30%
Firms:- A firm is taxable at the rate of 30% for the assessment year 2010-11 and 2011-2012
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