Filing of income tax return

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Querist : Anonymous

Querist : Anonymous (Querist)

28 November 2010 For an individual, is filing of reurn of income mandatory? Also, there were 6 indicators acc to which filing is mandatory on fulfillment of one of the indicator. Is it still there in the IT Act?

CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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28 November 2010 Not all individual should file electronically, Only those individual cover U/s 44AB Tax Audit shall file their return electronically.

It is desirable to file online, to get the refund process faster, otherwise it is not mandatory as on date.
1/6 th cretreia is of no use today.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 November 2010 Hi Madhusudan,when it is mandatory to file ROI? Also 1/6 criteria is still there or not in the IT Act?

CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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28 November 2010 ANUJ,
As I informed you earlier ONLY individuals whose books of accounts are audited U/s 44AB of Inocme tax act 1961, are mandatory.
Kindly refer the link for mandatory filing

https://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=a2380906-0b81-4a36-878d-85edf3a4c130&rdb=sec&yr=75996b99-a798-4098-bca8-e66ee23fe426&sec=139&sch=&title=Taxmann - Direct Tax Laws

Sec 139 (1)(b) refer the link

https://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=75ae4329-1651-4976-bb8b-23e69f16832a&rdb=sec&yr=75996b99-a798-4098-bca8-e66ee23fe426&sec=139&sch=&title=Taxmann - Direct Tax Laws

Provided that a person referred to in clause (b), who is not required to furnish a return under this sub-section and residing in such area as may be specified by the Board in this behalf by notification3 in the Official Gazette, and who 4[during the previous year incurs an expenditure of fifty thousand rupees or more towards consumption of electricity or] at any time during the previous year fulfils any one of the following conditions, namely :—

(i) is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified5 by the Board in this behalf; or

(ii) is the owner or the lessee of a motor vehicle other than a two-wheeled motor vehicle, whether having any detachable side car having extra wheel attached to such two-wheeled motor vehicle or not; or

(iii) 6[***]

(iv) has incurred expenditure for himself or any other person on travel to any foreign country; or

(v) is the holder of a credit card7, not being an “add-on” card, issued by any bank or institution; or

(vi) is a member of a club where entrance fee charged is twenty-five thousand rupees or more,

shall furnish a return, of his income 8[during any previous year ending before the 1st day of April, 2005], on or before the due date in the prescribed form9 and verified in the prescribed manner and setting forth such other particulars as may be prescribed :

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