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)

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)

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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