26 March 2016
If an individual filed return of particular year bcz his income was more than basic exemption but afterwards his income is below basic exemption then is it compulsory to file return or not for that particular year?
26 March 2016
As per fifth proviso to subsection (1) of section 139 ,an individual(or huf or AOP or BOI of AJP)is required to file return mandatorily only when their total income exceeds basic exemption limit without giving effect to provisions of section 10A or 10B or 10BA or chapter VI-A. Otherwise not.
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