20 rupees tax

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vinoth (Querist)
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20 July 2009 dear members,

my tax liablity comes Rs.20 whether i have to pay tax or not any exemption under IT act, if i pay the expenses for filing return comes nearly Rs.500, what should i do.

Rasesh

Rasesh (Expert)
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20 July 2009 Please understand that there are no expenses for filing an tax return. If you have a net tax liability of any amount after adjusting for all the deductions/exemptions available to you, you would have to first deposit the tax amount, with interest if any and then file the tax return on which no expense is to be incured.

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chetan soni

chetan soni (Expert)
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20 July 2009 you have to the tax liability, does matter hoe much it is. If this would have been rs. 5 also then also you need to pay this amount.

And for deduction of expenses incurred on income tax return filing, you can claim this only when you have business income.