Filing of income tax return
Dear Experts, I've a doubt. Please help me. If a person has Rs.20,00,000 sales and 18,00,000 expenses. Does he required to file Income Tax return? If we opt from presumptive basis, then taxable income will be 20,00,000*8%=Rs.160,000/-. My doubt is that is it necessary for him to file Income tax return ???
Replies (1)
Not necessary as its a NIL return but still advisable as it has some future benefits.
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