Income tax returns
This query is : Resolved
06 August 2013
WHO ARE REQUIRED TO FILE INCOME TAX RETURNS FOR A.Y 2013 2014?
PLEASE CLARIFY REGARDING 5 LACS LIMIT?
PLEASE CLARIFY REGARDING 5 LACS LIMIT?
06 August 2013
The 5 lakhs limit was applicable only for AY 2012-13. The notification was valid only for AY 12-13.
It is NOT applicable for AY 13-14.
Accordingly ALL assessees whose total income, before deduction under Chapter VIA (80C, etc) exceeds the maximum amount not chargeable to tax are required to file return of income.
Further, if the income exceeds Rs. 5 lakhs, then the return is to be filed electronically.
It is NOT applicable for AY 13-14.
Accordingly ALL assessees whose total income, before deduction under Chapter VIA (80C, etc) exceeds the maximum amount not chargeable to tax are required to file return of income.
Further, if the income exceeds Rs. 5 lakhs, then the return is to be filed electronically.
06 August 2013
it is mandatory to file return in income before chapter VIA deductions is more than basic exemption limit
online filing is mandatory for totalincome more than 5 lakhs, here total income means total income after chapter VIA deductions
online filing is mandatory for totalincome more than 5 lakhs, here total income means total income after chapter VIA deductions
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
