PAN Card
This query is : Resolved
26 September 2009
If a minor, having a PAN card, becomes a major, having no source of income but Bank A/c, FD's and other investments under his/her name created when he/she was still a minor and also those created after becoming major , then does he have to file his/her return and pay taxes?
27 September 2009
no, he is rquired to file his/ her return only if he/ she has income more than the maximum exemption limit.
27 September 2009
Hello,
As Per Section 139(1) of Income Tax Act, 1961 the assessee has to file return if Gross Total Income Exceed the Maximum Amount not chargebale to tax So, Accordingly it does't matter u have any amount of FD ot anyother Investment but if Income From These Inestment Excced the Limit only then it is necessary to file return of Income
As Per Section 139(1) of Income Tax Act, 1961 the assessee has to file return if Gross Total Income Exceed the Maximum Amount not chargebale to tax So, Accordingly it does't matter u have any amount of FD ot anyother Investment but if Income From These Inestment Excced the Limit only then it is necessary to file return of Income
29 September 2009
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
