E-filing mandatory if annual income more than rs.10 lacs.
This query is : Resolved
CA. Shwetank Vats
(Querist)
22 July 2012
The finance ministry has made it mandatory for people who have an annual income of over Rs. 10 lakh to file their tax returns for 2011-12 electronically.
My Q is :-
(a)10 Lacs is Gross Total Income
(Column B4 of ITR-1)
OR
(b)10 Lacs is Total Taxable Income (Assessment Income on which tax shall be calculated) (i.e. Gross Total Income Less Deduction u/s 80) (Column 15 of ITR-1)
Which should be read more than 10 Lacs either (a) Or (b) as above
Please reply urgently
My Q is :-
(a)10 Lacs is Gross Total Income
(Column B4 of ITR-1)
OR
(b)10 Lacs is Total Taxable Income (Assessment Income on which tax shall be calculated) (i.e. Gross Total Income Less Deduction u/s 80) (Column 15 of ITR-1)
Which should be read more than 10 Lacs either (a) Or (b) as above
Please reply urgently
CA PARAS BAFNA
(Expert)
22 July 2012
Option (a) is correct.
.
Consider GTI and not Total Income.
.
.
Consider GTI and not Total Income.
.
SANYAM ARORA
(Expert)
22 July 2012
Consider GTI and file the return Electrnically
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