Income tax
This query is : Resolved
02 July 2013
one individual has income below exemption limit for the FY 2011-12. bank has deducted TDS on his income in 11-12. now dt. of return filling for belated return is gone. now how can I file return? & what is penalty under income tax act in this case.
Is this compulsory to file income tax return if we have PAN?
Is this compulsory to file income tax return if we have PAN?
CMA Ramesh Krishnan
(Expert)
03 July 2013
If your income is comes under taxable limit then need to file Income tax mandatory u/s.139(1) you can file as belated now, may refund comes after adjusting the penalty
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