Discontinuation of IT Return
This query is : Resolved
26 December 2020
Respected Sir / ma'am
I have one client whose ITR filled for last 4 year, now he wants to not file return from this year (FY 2019-20) onward. Can i know consequences for the discontinuation of IT return ?
there is one more doubt, what if ITR change from business income (FY 2018-19) to Salary income for this year (FY 2019-20).
I have one client whose ITR filled for last 4 year, now he wants to not file return from this year (FY 2019-20) onward. Can i know consequences for the discontinuation of IT return ?
there is one more doubt, what if ITR change from business income (FY 2018-19) to Salary income for this year (FY 2019-20).
26 December 2020
No consequence if discontinuance of return in the year no taxable income.
ITR can be changed if there is change in nature of income.
ITR can be changed if there is change in nature of income.
Message likes :
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28 December 2020
ITR fllling is subject to the Income Tax Limits set for a particular class of person.
30 December 2020
Thanks CA R SEETHARAMAN Sir and Asha Kanta Sharma Maa'm, almost cleared but one doubt remain in mind is that depreciation is must to be claimed as it was claimed in last year return as per business income or not required and only salary income is to be included this year ??
30 December 2020
Only salary income to be included if business closed.
30 December 2020
Thanks CA R SEETHARAMAN Sir,,,
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