Return of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2012 In village area there are so many people not filling return of income. They have also taxable income about 3 to 4 lakhs from various source.
Reason for not filling of return of income is they have not knowledge of it.
Such type of people are not maintaining any accounts.

> is there any problem for them in futer if not files return of income ?
> will income tax department take any action against them ?
>what should they to do for filling return of income?

Mohit Naithani

Mohit Naithani (Expert)
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23 July 2012 In short not filling return is agt the law if your Gross Income is exceed the prescribed limit by IT authority....
In case of Salaried Emp. if income does not exceed Rs 500000 (without any deduction) and your interest on S/B Ac or any other source is not exceeding Rs 10000/- then their is no liability to file return.

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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23 July 2012 Dear Friend, this is matter of concern for Income Tax department. Now the law says , every person whose income from any source is in excess of thershold limit declared by the government will require to file Income Tax return.Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2012 Thank you sir.

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