FIRST IT RETURNS

The only criteria to file the return is his total income must be exceeding the 'maximum amount not taxable' i.e., Rs. 110,000/- (for the AY 08-09) and Rs. 100,000/- (for AY 07-08). However, if the income is less than this limit but there is a refund due, then the return may be filed. Not when the assessee otherwise wants to declare 'some' income (not taxable) and then to produce the ack. to the Bank for a loan....

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