income tax returns

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suman (Querist)

27 June 2009 Is a break in filing an income tax returns permissable when the taxable income is NIL in a particular year?

Ratan Sharma

Ratan Sharma (Expert)

27 June 2009 Yes Suman,
When the taxable income is Nil or below the taxable limit then you need not have to file your return of income. You can file the return in subsequent years when your income exceeds.

suman

suman (Querist)

27 June 2009 Thank you so much for your kind reply...i also need to know that what documents are considered enough as to prove that my taxable income is NIL??

CA.BHARAT BHUSHAN

CA.BHARAT BHUSHAN (Expert)

27 June 2009 Yes, I agree with Mr.Sharma.....about documents It depends upon the nature of income...if you are salaried then ur salary certificate and your bank statements. If you are in business, then your books of accounts alongwith ur supporting vouchers.

However, you are advised not to take any break in filing the return...it keeps ur records uptodate

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