NIL INCOME TAX......

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amol (Querist)
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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

Rahul Gupta (Expert)
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16 April 2010 No, I don't think there is any provision.......

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 April 2010 Agree. There is no such provision.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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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.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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16 April 2010 agreed with Mr. Aditya.

CA.Nikhil Gupta

CA.Nikhil Gupta (Expert)
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16 April 2010 Well said Mr Aditya

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