senior citizen
This query is : Resolved
16 October 2010
If the total income of a senior citizen after all deductions is Rs.2,30,000..and it's given that this income includes Rs.10,000 as winnings from horse races.
Then what will be the tax..?
Whether it will be nil..or tax will be charged on Rs.10,000..?
PLEASE REPLY.....
Then what will be the tax..?
Whether it will be nil..or tax will be charged on Rs.10,000..?
PLEASE REPLY.....
16 October 2010
It shall be teated as nill as per the section 139(1) the senior citizen are not liable to file his return of income if he has income below 240001/. therefore in that case if he is not liable to file i.t return than he is also not lible to pay tax irrespective of nature of income.
17 October 2010
Section 115BB(i) applies and accordingly Rs. 10,000/- is to be taxed.
Citation :- (2006) 100 ITD 500 (Coch)./ (2006) 284 ITR 218 (Coch).
Citation :- (2006) 100 ITD 500 (Coch)./ (2006) 284 ITR 218 (Coch).
Message likes :
1 times
19 October 2010
BUT MR. WARRIER SEC.115BB(i) DOES NOT OVERRIDE TO SECTION 139(1)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
