Hi
Earlier being in the job, I used to file Income Tax Return, but now I don't have income. In this case, I need to file I. Tax or not. Please advise.
4 Replies
Piyush Khandelwal
(68 Points)
Replied 11 June 2018
Being an individual, if your income is below the taxable limit(i.e 250000) then even if you don't file your ITR there will be no issues.
Sunil Ahmad
(Student)
(1511 Points)
Replied 11 June 2018
NO NEED if your total income does not exceed basic exemption list during P.Y.
Shreshth Mehta
(CA FINAL )
(179 Points)
Replied 11 June 2018
No need to file return if you have income below 250000.
However if any TDS is deducted then I would recommend file the return as TDS amount will become refund and that amount will come into you account after some time when IT department issues refund. and also it would be on safer side to file if TDS is deducted as ITO might send notice on basis of 26AS income
However if any TDS is deducted then I would recommend file the return as TDS amount will become refund and that amount will come into you account after some time when IT department issues refund. and also it would be on safer side to file if TDS is deducted as ITO might send notice on basis of 26AS income
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