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Relating to filing itr return on refund case

ABHIJIT DEY (Finance Professional) (25 Points)

04 March 2015

Dear Sir,

I would like to clear himself about one thing that I had a contractual agreement with a company relating to Proffessional Services rendered to them and they were in practice to pay me every month by way of Neft transffer after deducting TDS amount on such payment every time.They every year provide me TDS certificate contaning the Total amount of TDS deducted.As I don't have any income except that and also it never cross minimum taxable limit.Therefore, I Filed ITR to refund my TDS amount as I am not liable to pay Tax.Now I don't have that contract with that company so asking is it nessesary to file ITR regularly now when I don't have any need to do that.or as I filed once then I have to file Blank every year as such.

Please advise.

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8 Replies

CA Raj Doshi (Practising CA) (8820 Points)
Replied 05 March 2015

If your gross income is more than the basic exemption limit, file ITR for that year. If your TDS is deducted, file ITR. If you are planning to get a loan, file ITR. Better to file and comply.

1 Like

CA Pooja Sharma (Chartered Accountant) (192 Points)
Replied 05 March 2015

As per section 139, an Individual is required to file Income Tax Return only if Total Income (Total income means Income before claiming deduction under chapter VI-A) exceeds basic exemption limit.

1 Like

Saurabh806 (Kanpur) (112 Points)
Replied 06 March 2015

As you said that your income does not exceed income basic exemption limit so it is not necessary to file income tax return but filling a nil return also has some other eg benefit for obtaining a loan from bank, for getting a visa.

CA Pooja Sharma (Chartered Accountant) (192 Points)
Replied 06 March 2015

Definitely agree filing of return may serve other purposes as explained by you

1 Like

ABHIJIT DEY (Finance Professional) (25 Points)
Replied 06 March 2015

Thanks a lot to all for taking active participation into the discussion and make me cleared about the rasised tropic.I have got understood that It is not nessesary to file return if my Gross Total income not exceeds or TDS has been deducted case.May anybody has filed return once when TDS got deducted.

I thought as I have filled once than may it be mandetory to file return every year whether you have income or not.

Like to know similar thing that If any salaried person worked for a concern where his income exceeds taxable limit and filed his return for 5 consecutive year and then he left his job to pursue any study and not worked for any concern till 3 years and thereafter joined a concern where his income again exceeds taxable income.

My question is that is there any obligation from IT department that he had to submit NIL returns during that Job less time of 3 years when he had no income.

Please advise.

CA Raj Doshi (Practising CA) (8820 Points)
Replied 07 March 2015

The same conditions prevail. If Gross total income exceeds basic exemption limit then file ITR. If any foreign asset or foreign bank account is there, the compulsorily file ITR.

DEEPAK KAUSHIK (ARTICLE) (55 Points)
Replied 10 March 2015

You should file your ITR because it is necessary for your future purpose and also make your capital . You can claim refund from income tax department if you are not liable to pay income tax in your ITR.

DEEPAK KAUSHIK (ARTICLE) (55 Points)
Replied 10 March 2015

It is advised that a person should file his ITR regularly but in the period of no income he can opt not to file his ITR. BUT deptt. sometimes can ask the assesse why he has not file his ITR for such period of non filling.