Regarding ITR

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GOS (Querist)
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27 June 2011 Whether it is mandatory for the individuals to file ITR every year even if their income is within the exemption limit after allowable deductions, if the individual hold PAN card?
Please clarify

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 June 2011 If the income before allowing deduction u/s 10A/10B/10BA and chapter V1A deduction is more than the basic exemption limit, return filing is mandatory.
However, in case of salaried assessees whose gross total income ,including s.b interest up to Rs.10,000/-,is up to Rs.5,00,000/- and tax has been correctly deducted by the employer, no need to file return of income.

GOS

GOS (Querist)
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27 June 2011 Thank you Sir.

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