Itr for ca student pursuing article ship.

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Nikunj Agrawal (Querist)
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19 December 2013 Can a CA student pursuing articleship file his income tax return ? And if the answer is yes then is there any guidelines for filling the return???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2013 if income exceeds rs 2 lakh can file itr 1.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 December 2013 you can file return irrespective of what your salary is (it is totally your discretion if you want to file even if salary is below the exempted limit. Once it crosses the exemption limit, you need to file return compulsorily.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2013 salary is different from stipend so one must not mix it up.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 December 2013 well most of the firms paying higher stipends which take the income beyond 2 lakhs, deduct taxes under 192B only!!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2013 but still there is no employer employee relationship which is the most imp aspect of sec 192B as there is only principle-article relationship which is not mentioned under sec 192B.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 December 2013 well there is only one judgment stating that there is no relationship. If you read the documents we sign at the time of joining as articles, the relationship is very much of a sub-ordinate.

The only other way of dealing it (from principal's angle) is to show it as professional fees (which is not to the benefit of articles as TDS provisions would operate at a much lower trigger point of Rs 30000.

from article point of view you can anyways claim exemption under 10(16). There are various cases to deal with that part in article's favor.

Regardless, you can file the tax return even if stipend/salary is way below the exemption limit. there is no reason to wait for it to exceed Rs 2 lakhs (current exemption limit.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2013 that is your view , i will never suggest to file return when income is below 2 lakhs and invite trouble from it dept.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 December 2013 what sorts of trouble?? can you list any wherein income was below the exemption limit??

This is the problem, we see income tax department's queries as problems.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2013 income can be supressed or claiming bogus deduction or excess then actual , if it dept want can ask to produce evidence etc then its mental harrasement of visiting ao with no peace if caught doing any of above.

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