Return not file
This query is : Resolved
30 August 2014
If we file our 1 return of FY 2009-10 in jan-2011, then after no return will be file by us. So it is necessary to file every year return? If i want to discontinue to file return & dont want to file the return. any problem arise or its ok.
30 August 2014
1. There is no problem in not filing the return if it is not mandatory.
2. However if you have income other than salary then you will need income tax returns if you wish to apply for a loan. Usually banks ask for past 3 years returns.
2. However if you have income other than salary then you will need income tax returns if you wish to apply for a loan. Usually banks ask for past 3 years returns.
Rupesh Jain
(Expert)
30 August 2014
IF YOU HAVE NO TAXABLE INCOME THEN NO REQUIRED TO FILE THE INOCME TAX RETURN.
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