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Income above 15 lakhs - gross or net taxable income?

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Balaji Ramani

Sr. Manager

39 Points Posted on 17 April 2014

Hi Forum,

When choosing the ITO to submit the ITR, which income is determined? For eg., for income above 15 lakhs the ACIT/DCIT need to be chosen and not the ITO, but on what basis is the income determined - on Gross Total Income or Net Taxable income?

If a person was filing returns to the ITO (less than 15 lakhs) till last year, and if this year the income exceeds 15 lakhs can he just switch the filing to the respective ACIT/DCIT?

Look forward to your replies and assistance.

Balaji Ramani.

Replies (4)

Mihir

Wealth Manager

5358 Points Posted on 18 April 2014

Just check the jurisdiction/ward on the income tax website using your PAN.

Income Tax Wala: (Fin. Expert)

Chartered Accountants

1412 Points Posted on 18 April 2014

Agree with Mihir

manoj

student

4374 Points Posted on 18 April 2014

FULLY AGREE WITH MIHIR JI

Balaji Ramani

Sr. Manager

39 Points Posted on 21 April 2014

Hi All,

Thanks for the response. That is the first thing that came to my mind. While checking the jurisdiction, the premise is that the income is below 15 lakhs.

But when do you choose the below option? Also, if the income was less than 15 lakhs last year and filed with the ITO, can we just switch this year to the DCIT/ACIT? Also, which income is calculated - Gross income or Net taxable income to determine above or below 15 lakhs?

DCIT/ACIT SALARY CIRCLE TAMBARAM

where income is Rs. 15 lakhs and above.

CHE

142

Best regards,

Balaji Ramani.