Filing of Return
This query is : Resolved
13 May 2009
I am a salaries employee my net income is below Rs.1.50 lacs after deducting all allowances do I need to file the income tax return?
Thanks
Thanks
13 May 2009
If your total salary is more than Rs.1.50 lacs before claiming deduction as per chapter V1A you have to file return compulsorily.
14 May 2009
Now the onus of Sec 139(1) has been shifted to Gross total income rather than net income. So, we need to see whether your Gross Total Income before any deduction under chapter VI(A) exceeds 150000 or not. If it exceeds you need to file return.
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