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
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