Income below taxable limit but tds deduct
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2013
if insurance commission Rs 110000/- and tds@10% has been deducted for FY 2011-12 but not filed return. if he file return today and claim TDS refund,Ao can demand Penalty of Rs 5000???
in my opinion, he is not liable to file return U/s 139 as his income is below taxable limit---Right??
in my opinion, he is not liable to file return U/s 139 as his income is below taxable limit---Right??
05 July 2013
YES..IF HE IS HAVING ONLY THAT INSURANCE COMMISSION INCOME
He is not required to file return under section 139(1)
SO you can file belated return and claim refund
He is not required to file return under section 139(1)
SO you can file belated return and claim refund
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Rent lease agreement
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST ON DAMAGED GOODS
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
