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
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