How to return tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2011
Hi,
I was worked in a small company.
I received my salary as cheque only.
Is it possible for me to do the IT return for that.
Please help me to...
I was worked in a small company.
I received my salary as cheque only.
Is it possible for me to do the IT return for that.
Please help me to...
CA Amit Joshi
(Expert)
20 August 2011
If your salary is less than 5lacks in a year than its not necessary for you, but for a good future you should fill the ITreturn.
CA Chitta Ranjan Das
(Expert)
20 August 2011
The taxability of an individual arises when his taxable income exceeds the limit of taxation (i.e.,Rs.1.80lakhs in the P.Y.2010-11 etc). So calculate the taxable income and if the income exceeds the taxable income,then tax to be paid and ITR to be filled. It is nothing to do with whether salary is received in cheque or cash. Now as per the new rule if the taxable income does not exceed Rs. 5 lakhs and refund of tax is not due to him, then there is no requirement of filing ITR.
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