Income tax Return

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Manmohan ACA, CS (Querist)
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04 June 2009 I am a individual ner filed my return before. my income is below exempted limit. tell me the procedure to fuile return

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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04 June 2009 When your income is below exempted limit, then I will suggest you to not to go for filing of ITR, as it will not help you, neither in loans, nor in any other purpose. In delhi, now a days, Income tax department people try to not to accept these kind of returns.

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CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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04 June 2009 Even if you want to file your return, then on the basis of your income, you can file online return in the prescribed form ( ITR 1 to ITR8)

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CA.Pujah

CA.Pujah (Expert)
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05 June 2009 As you have not given any information on the kind'o income u have, I would like to tell you a few things:
1) U r not obliged to file IT Return only when your Gross Total income before deductions of Chapter VIA (80D to 80U) is less than the exemption limit.
2) If your income is below the exemption limit due to the negative income from House property, I suggest you file your return in both the following cases:
a) You want to carry forward the Loss from HP
b) even if u don't carry forward it, it's a good proof that you have not intentionally escaped income tax.

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