Income tax return limit
This query is : Open
Johny Kutty
(Querist)
08 August 2017
Dear Experts, I am a house wife with out any income as such,except some FDs out of accumulated savings. I never used to file any IT return,because my income used to be much below 2.5 Lacs. Recently I started small time trading in shares,but even with this my income never approaches 2.5 Lacs. Under the circumstances,do I have to file IT Return, only because I trade is shares ? Thanks
Amol S Joglekar
(Expert)
08 August 2017
You need not file the income tax return if your income is below taxable. (People file the return in such cases just to build a record)
Message likes :
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08 August 2017
Yes. I agreed fully without notice.....
Just build a RECORD.....
Sir., You said very frank
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