ITR filing
This query is : Resolved
23 July 2008
I was working as an insurance agent earlier and have stopped now.But i do get my commission which is hardly around 15000 per annum,do i still need to file return.And if so what is the last date for submission
S.Srinivasaraghavan
(Expert)
23 July 2008
Why do you want to file if it is below tax limit?
23 July 2008
is it ok if i dont file now,as i have filed for three years earlier when i had taxable income,will there be no penalty for not filing of return
Sachin Kataria
(Expert)
23 July 2008
it will not attract any penalty if you dont file your ITR.
ITAct does not provide any penalty for non filing of return if gross total income is less than the maximum amount chargeable to tax. however if your Income attaracts tax, and you do not file return on due date or year ended 31.03.09 then it will attaract a penalty of Rs. 5000.
dont worry now.. DO NOT FILE RETURN as your total income does not exceed maximum amount chargeable to tax
ITAct does not provide any penalty for non filing of return if gross total income is less than the maximum amount chargeable to tax. however if your Income attaracts tax, and you do not file return on due date or year ended 31.03.09 then it will attaract a penalty of Rs. 5000.
dont worry now.. DO NOT FILE RETURN as your total income does not exceed maximum amount chargeable to tax
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