Income Tax


This query is : Resolved 

18 November 2009 1.Is it compulsory to file claim of refund?
2.What is meant by Pay-As-You Earn Scheme?

18 November 2009 It is mandatory to file return for refund.
You may also file belated return u/s 139(4).

18 November 2009 1. return is required to be filed.
2. it is another name of advance tax.

18 November 2009 It is mandatory to file return u/s 139 as your Gross Income is liable to tax. No matter, your tax has been deducted at source. Now, you have an option of filing belated return only & that too anytime before 31.03.2010 otherwise it would attract the penalty of Rs 5000. Pls note that belated return can't be revised, so please file the return with utmost care.


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