Can assessee inform incometax calculation to pre inform

Tax queries 454 views 4 replies

jraju

Others

283 Points Posted on 28 August 2015

Hi, Can an assessee write to ITO, informing him of his income tax calculation and if there is no tax, can the same be treated as a kind of filing information.

IT normally despatches penalty notice for non filing of tax returns, even though the income exemption limits are raised in a year by the Govt. Instead of getting the notice and then writing to them about the income details, will it not be better if one pre inform the calculation sheet by giving details of ones actual income , if the amount is less than taxable income?

Should one need to file itr sahaj, if his gross taxable income does not exceed the limit for the assessment year 2015-16?

Replies (4)

Udgam Koomar

Tax Technologist

1949 Points Posted on 28 August 2015

Its good but it increases the deptt work. Thats why they are going online to reduce work and they have many sources theu which they collate income data about user. But if tax payer still thinks there is no taxable income he can safely not fike the returns.

S. Shiroor

Others

1212 Points Posted on 28 August 2015

No filing ITR form is the only way that you communicate with IT department.
If you dont have tax credits or AIR in ur 26AS statement but if you have filed IT return last year and this year your income is less than taxable limit still you need to tell Taxman.

Arif Ali

Apt Co Advisory

1230 Points Posted on 29 August 2015

No. You can not write to inform department. Only ITR is way to tell them. If you filed itr for last year with tax then if in current year even if u hv less than income maximum amount not chargeable to tax, then u hv to file itr for current year still