Is it mandatory to file itr 1 return for every year
This query is : Resolved
Manjunath K
(Querist)
17 July 2018
Dear Sir,
one of my friend filed ITR Return last year & the tax liability is nil..
this year also his income is not taxable , so is it compulsory to file return every year? even though if a person's income is below taxable income.
one of my friend filed ITR Return last year & the tax liability is nil..
this year also his income is not taxable , so is it compulsory to file return every year? even though if a person's income is below taxable income.
CA Mayur Todmal
(Expert)
17 July 2018
not compulsory , but advisable to file itr regularly
RAM KUMAR.K.S
(Expert)
17 July 2018
dear sir, even if your tax liability is nil, if your gross total income is the deciding criteria. If your gross total income before giving deductions under chapter VIA exceeds basic exemption limit, then you are required to file Income Tax return. Also, if you are having any source of income outside India, then assessee should file ITR.
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