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???
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.
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.
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.
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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