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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 September 2010
Is it mandatory for me to file an Income Tax Return if I have a PAN?
28 September 2010
No. The following points explain this clearly:
You need to file an Income Tax Return if your total taxable income exceeds the basic exemption limit before taking into account deductions.
For the financial year 2009-2010, the basic exemption limit is Rs.1,60,000. For women, the limit is Rs.1,90,000, while for Senior Citizens it is Rs.2,40,000.
You do not need to file an income tax return if your total taxable income does not exceed the basic exemption limit before taking into account deductions, even though you may have a PAN.
You need to file an Income Tax Return if your total taxable income exceeds the basic exemption limit before taking into account deductions.
For the financial year 2009-2010, the basic exemption limit is Rs.1,60,000. For women, the limit is Rs.1,90,000, while for Senior Citizens it is Rs.2,40,000.
You do not need to file an income tax return if your total taxable income does not exceed the basic exemption limit before taking into account deductions, even though you may have a PAN.
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