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IMP Query abt Income tax

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(Querist)
21 August 2009 Hi Experts,

Suppose Mr. ABC is a student,, but he left his studies two years before in 2006, since 2006 he is not doing anything. But in meanwhile in 2009 he got brokerage of Rs.5,00,000/- on sale of land in pune in year 2008.

Prior to this he does not have any taxable income from any source. The other party who paid commission of Rs.5,00,000 deducted TDS @ 10.30 on this commission.

My question is : Is Mr.ABC is required to file ITR for FY 2009-10 ?
2) Under which head he can file the return.
3) As basic exemption limit is Rs.160000 for FY 09-10, can he claim refund of excess TDS deducted

Note : Mr ABC does not have any shop act license or registered business.


THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
21 August 2009 If he falls under Tax bracket he has to file. Yes, he can get TDS refund.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
21 August 2009 Agree with Expert.
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Anwar Shaikh

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Anwar Shaikh (Querist)
24 August 2009 THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business
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