Should i file return of income or not ???

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Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2015 Respected sir ,

My gross total income exceeds basic exemption limit but after allowing chapter VIA deduction the total income doesn't exceeds the basic exemption limit. shall i have to file return of income or not ????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 August 2015 Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act 1961, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. For AY 2015-16 Maximum Amount not Chargeable to Tax is:
# Rs 2,50,000/- (General)
# Rs 3,00,000/- (Senior Citizen – Age between 60 to 79 Years)
# Rs 5,00,000/- (Super Senior Citizen – Age 80 or Above)

So you need to file Income Tax Return.

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Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2015 Thanque so much sir.