About filling of return

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shivani (Querist)
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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

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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11 March 2013 Income Tax return is to be filed only if income exceeds the basic exemption limit.

shivani

shivani (Querist)
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11 March 2013 but someone has told me that all the assessee must file the return even his/her exemption limit exceed or not..

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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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.

shivani

shivani (Querist)
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11 March 2013 thanx a lot sir..

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