Income tax return filing
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2016
Hi,
Is it compulsory to file income tax return if income is below exempt limit
Thanks in advance
Is it compulsory to file income tax return if income is below exempt limit
Thanks in advance
Unnikrishnan B
(Expert)
03 September 2016
An individual whose total income before adjusting deduction under chapter VI A crosses the basic exemption limit should file income tax return as per section 139(1)
So kindly verify is your income comes below the exemption limit after adjusting deductions mentioned in Chapter VI A
And also if you have assets located outside India or holds as beneficial owner of any assets outside India
If yes then you should file your return even if your taxable income is below the exemption limit
I hope I have answered the query
Thanks
So kindly verify is your income comes below the exemption limit after adjusting deductions mentioned in Chapter VI A
And also if you have assets located outside India or holds as beneficial owner of any assets outside India
If yes then you should file your return even if your taxable income is below the exemption limit
I hope I have answered the query
Thanks
Message likes :
1 times
Unnikrishnan B
(Expert)
03 September 2016
Do I confused you? Kindly mention
Deepti Asawa
(Expert)
05 September 2016
No its not compulsary
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