hello friends, i have only agricultural income of rs. 300000
i want to file the return even it if exempt
but when i fill the return
in the acknowledgement form it shows gross total income 0
because agricultural income is exempt income and return is not acceptable by the deptt
i have no other income.
pls help me.
Hi Sir,
If u are having only exempt incomes, the return will show gross total income as zero only...
U can file NIL RETURN with department.. It has to be accepted by them.
File the acknowledgement as it is generated.. Keep copy of the excel with u....
Also note that u are not required to file ur return under sec 139 of the Income Tax Act... U r doing a voluntary exercise.... cos u can always maintain source to show dept, if required one day...
Dear Sir.....
Agree with Ordinarily resident Evil..........
Agricultural Income is exempt from tax u/s 10(1)...........
Since u have only Agri. income - Gross total income will be zero only...
You can always file NIL RETURN with department...........
CAclubindia
