Compulsory to file Return after PAN Card ?

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Jignesh Desai (Querist)
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20 June 2011 Is it compulsory to file Income Tax Return for an Individual every year after he has been issued a PAN Card .

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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20 June 2011 Not compulsory provided your income is less than taxable limit if you are other than a salaried employee and if you are a salaried employee if your income is less than 5 lakhs you need not file a return.

SHASHI VARDHAN

SHASHI VARDHAN (Expert)
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20 June 2011 no it is not. if your income is above 160000(5 lakh notification yet to come)before allowing deduction under Chapter-VIA then only it is obligatory to file ITR refer sec 139 of IT Act in this regard.

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Jignesh Desai

Jignesh Desai (Querist)
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21 June 2011 Thanx , Guys . You guys are real experts & constantly improving !

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