NIL INCOME TAX......
This query is : Resolved
16 April 2010
I HEARD THAT IF SOMEONE HAS INCOME BELOW MINIMUM TAXABLE LIMIT, THEN HIS TELEPHONE BILL AND ELECTIRCITY BILL CHARGES FOR THAT PARTICULAR YEAR SHOULD BE LESS THAN RS. 14000/-? IS IT TRUE?
Rahul Gupta
(Expert)
16 April 2010
No, I don't think there is any provision.......
16 April 2010
Agree. There is no such provision.
16 April 2010
There is no such provision and link between income and expenses.
One person's expenses may be any amount as per thier use.
One person's expenses may be any amount as per thier use.
Aditya Maheshwari
(Expert)
16 April 2010
The only requirement of law is that whatever are your expenses if your income is not sufficient to cover the expenses then you must have a proper source of the receipt. If the source of receipt is proved no one can ever challenge any amount of expenses.
16 April 2010
agreed with Mr. Aditya.
CA.Nikhil Gupta
(Expert)
16 April 2010
Well said Mr Aditya
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