Filing Of IT Return
This query is : Resolved
R.P.Shankar Rao
(Querist)
28 June 2009
Dear Sir,
Till last financial year(Upto March 2008) i was working in a bank and used to file the return every year.However i joined my friends business as an employee and not received any salary for the year 2008-2009.Is it compulsory for me to file return,even though i'm not having any salary.Can i skip the filing of return this year.
Till last financial year(Upto March 2008) i was working in a bank and used to file the return every year.However i joined my friends business as an employee and not received any salary for the year 2008-2009.Is it compulsory for me to file return,even though i'm not having any salary.Can i skip the filing of return this year.
vinod kumar lalwani
(Expert)
28 June 2009
Dear
Return is just a record of source of income to be disclosed to deopartment in a particular year. in my veiw if u not got your salary in a year than one can not say that source was not there only receipt was not there. section 15 says salary will be taxable in year in which it becomes due or recd. whichever is earlier.
So should pay your tax (if it is taxable) on due basis as in future u can claim that deduction in the year of receipt.
Return is just a record of source of income to be disclosed to deopartment in a particular year. in my veiw if u not got your salary in a year than one can not say that source was not there only receipt was not there. section 15 says salary will be taxable in year in which it becomes due or recd. whichever is earlier.
So should pay your tax (if it is taxable) on due basis as in future u can claim that deduction in the year of receipt.
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