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Income tax return
For this Assessment year 2020-2021 I was not pay tax . I need to file return or not?
Replies (9)
Quick Summary
Enna solla varinga Mr. mahendran?
Tds is one point.
tax liability is another point.
You must know the basics .
if tds has been deducted. You must file returns immediately.
You can claim tds deducted immediately.
tax liability is another point.
You must know the basics .
if tds has been deducted. You must file returns immediately.
You can claim tds deducted immediately.
if tds deducted you have to file tax return
Rama krishna sir 😂😊
if you don't have tds but income above limit then file
if you have tds then file
if you don't want to file then it's fully depends upon you
no if tds is deducted it is compulsory even if not within tax bracket
It's mandatory only if the gross total income exceeds maximum amount not chargeable to tax i.e. 2.5 lakhs irrespective of TDS has been made or not. if the GTI of an assessee below the tax bracket and TDS also has been deducted, then it's up to the assessee to file ITR to claim refund or to forego the refund by not filing
Sometimes filing of return brcomes mandatory in the following cases:
1. Income exceeds Gross Total income.
2. Some amount is credited which is not in the nature of ordinary circumstances
3. tds deducted .
4. In case you want to avail loan it return acknowledgement copies are mandatory.
1. Income exceeds Gross Total income.
2. Some amount is credited which is not in the nature of ordinary circumstances
3. tds deducted .
4. In case you want to avail loan it return acknowledgement copies are mandatory.
I agree both sabhysachi and ram krishna sir
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