If the income of a person exceeds INR 215000 and 55000 is deposited in PPF to availe 80C benefit, then the net Amount falls to 160000... Wil the person in this case needs to file ITR and Deposit Tax?
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File itr - or not
Replies (9)
Dear
Yes you have to file your return. But as per latest notification if you have only salary income and interest income(below 5Lakhs) and TDS is deducted by your employer than no need to file your return. This is in the case on resident.
agreed with manoj
my client(individual) turnover is 43 lakhs from businees , 80C is 1,00,000, and housing loan paid is interest 1,02,619 and principal is 5,309
Do can i file ITR 4S
Then I don't need to submit Tax?
if tds is allready deducted then there is no need
Dear Siva I suggest you to file itr 4 for the same.
Is TDS also deducted on Direct Income? Bank has already charged TDS on Deposits, and can I claim TDS returns after Tax saving and my actual income from all sources above INR 2.15 Lacs?
Dear Jing
please tell your all incomes here or in pm will let you know what is your tax liability. Also tell me your residential status and all tds details and incomes.
Do I need to file for TDS refund seperately or,just ITR to get TDS Refund
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