Compliance notice
This query is : Resolved
17 October 2014
One of my client has received a notice from IT for not filing returns for AY 2012-13. 'No taxable income' is one of the answer in the reply that can be given. So what does 'No taxable Income' mean?.Client's gross income did not exceed basic exemption limit.
17 October 2014
No taxable income means Gross income less allowable deductions under income tax did not exceed basic exemption limit.
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