Liability to file rerutn
This query is : Resolved
Hiteshkumar Verma
(Querist)
16 February 2013
suppose after net deduction my income is 160000
shall i liable to file income tax return
shall i liable to file income tax return
Karan Teli
(Expert)
16 February 2013
If the net income of the person is more than the Basic Exemption Limit, then he has to file the return of income. Here in your case the net income is below BEL and not chargeable to tax, hence return filing is not mandated.
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