Return filed for ay 2015-16

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Monika Khadayate (Querist)
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31 March 2016 f my income is less than 2,50,000 in FY 2014-15, then also i have to file my return today? please give me advise

Amol S Joglekar

Amol S Joglekar (Expert)
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31 March 2016 Not required as such. But it is better you keep on filing your return of income on regular basis so that your PAN remains ACTIVE

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Monika Khadayate

Monika Khadayate (Querist)
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31 March 2016 there is a circular issued for AY 2014-15 and AY 2015-16 to file income tAX RETURN on or before 31.03.2016. that why i m asking that for AY 2015-16, whether it is mandatory for people to file ITR on 31.03.2016 whose income is below taxable limit?

Amol S Joglekar

Amol S Joglekar (Expert)
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31 March 2016 Yes. In fact there is effective ad campaign by the income tax department about the same, on TV channels as well.
For financial year 2014-15, your income is below 250,000. So your case is out of the scope of that circular.
As I said, it is better to file the return. You can file the same any time before 31/03/2017.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 March 2016 No need to file ITR if income is below taxable limit.

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