About filling of return
This query is : Resolved
11 March 2013
sir,
i want to know that is it compulsory for all to file the income tax return whether his/her taxable income doesn't exceed the exemption limit...also give me all information about filling of return... plz rply me
i want to know that is it compulsory for all to file the income tax return whether his/her taxable income doesn't exceed the exemption limit...also give me all information about filling of return... plz rply me
11 March 2013
Income Tax return is to be filed only if income exceeds the basic exemption limit.
11 March 2013
but someone has told me that all the assessee must file the return even his/her exemption limit exceed or not..
11 March 2013
139.(1) Every person,—
(a) being a company [or a firm]; or
(b) being a person other than a company [or a firm], if his total income ...during the previous year exceeded the maximum amount which is not chargeable to income-tax,...shall, on or before the due date, furnish a return of his income.
So,
If your income does not exceed basic exemption limit, then you need not file return of income tax.
(a) being a company [or a firm]; or
(b) being a person other than a company [or a firm], if his total income ...during the previous year exceeded the maximum amount which is not chargeable to income-tax,...shall, on or before the due date, furnish a return of his income.
So,
If your income does not exceed basic exemption limit, then you need not file return of income tax.
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