16 April 2010
sir it's necessary to file return that if anybody is having gross total income is more than the slab rate but after such deduction under chapter VI A person is income is less than slab and his tax liability is zero
kindly give me practical approach theory i know that.........
16 April 2010
The theory you know is the practical approach. Let me also remind you one good old saying."Don't learn the tricks of the trade first,learn the trade".
17 April 2010
What people do is a general question which I am not supposed to answer in an open forum .I used to remind the compliance of the 4th proviso to section 139(1) so as to avoid the consequences of section 271F.
17 April 2010
Once you submitted return on any AY or you have a PAN No. you are in the Data Base of the IT department. In Practicality they can ask you to submit return any time.
As far as filing of IT Return is concerned,rule is such that when your GROSS TOTAL INCOME (BEFORE CLAIMING DEDUCTION UNDER CHAPTER VI-A) exceeds the basic exemption limit, person has to file the income tax return.
CAclubindia
