26as statement shows income receipts without tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2017
Hi
Iam an income tax payee and my mom got the message on her mobile phone -
26As statement shows income receipts without TDS
She took a loan of 5 lacs from our relatives for house construction and deposited in bank . she is also a teacher but her yearly income is 1.2 lacs .
So did she get the message because of the deposited 5 lacs amount ??
Or is it just a general message .
Do she has to pay income tax or file an ITR ???
Iam an income tax payee and my mom got the message on her mobile phone -
26As statement shows income receipts without TDS
She took a loan of 5 lacs from our relatives for house construction and deposited in bank . she is also a teacher but her yearly income is 1.2 lacs .
So did she get the message because of the deposited 5 lacs amount ??
Or is it just a general message .
Do she has to pay income tax or file an ITR ???
24 July 2017
It is a general message saying, that no TDS is deducted on Salary. It is because income is under Exemption limit. There is no need to Income Tax but I advice to file Nil Rated ITR.
24 July 2017
But it not mandatory to file ITR as income is below 2,50,000
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2017
Thanks a lot Mridul for prompt response . very much appreciated :)
24 July 2017
Please download your mum's 26AS Statement and check the amount of income credited. That along with the salary if it does not exceed Rs. 2,50,000/- you will not have to file the return.
This year department has been e-mailing people who have 26AS credits, with or without TDS, to encourage them to file their returns.
Legally you are required to file only if the total income is above the minimum amount chargeable to tax.
This year department has been e-mailing people who have 26AS credits, with or without TDS, to encourage them to file their returns.
Legally you are required to file only if the total income is above the minimum amount chargeable to tax.
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