Income tax Return Filing-Reg

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MEENA VIVEK 02 November 2019

Whether the assessee who has taxable income Rs.3 lakhs per annum need not pay tax if Rs.2500/ claiming rebate u/s 87A but has he to file income tax return for Assessment Year 2020-21.

prasad Nilugal 02 November 2019

Yes , If basic examption limit (250000/-) exceeds , section 139 of the income tax act , in your case yes .

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Savan Rangadhol 02 November 2019

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RAJA P M ("Do the Right Thing...!!!") 02 November 2019

Yes... ITR filing is mandatory is income exceeding BEL.

subhagan sreerangam 02 November 2019

Your taxable income above basic exemption ,so file ITR.

Rijo John (audit manager) 02 November 2019

being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,

Provided also that every person, being an individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, or an artificial juridical person, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year, without giving effect to the provisions of clause [38] of section 10 or section 10A or section 10B or section 10BA or Chapter VI-A exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.

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