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Income Tax Return in Case of Farmer For A.Y. 2020-21

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Ravi SADhiyan

Practice

4510 Points Posted on 03 March 2020

Whether Farmer required to file return in case he Paid Electricity bill more than Rs. 100,000/- for the A.Y. 20-21

Replies (2)

Quick Summary

For the Assessment Year 2020-21, farmers who paid more than £100,000 towards electricity consumption are now required to file an income tax return. This obligation is mandated by the seventh proviso to sub-section (1) of Section 139, regardless of agricultural income. The rule applies irrespective of whether the farmer would otherwise be exempt from filing.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212572 Points Posted on 03 March 2020

Yes.

As per SEVENTH proviso to sub-section (1) of Section 139 by the Act No. 23 of 2019, w.e.f. 1-4-2020 :

Provided also that a person referred to in clause (b), who is not required to furnish a return under this sub-section, and who during the previous year—

(i) has deposited an amount or aggregate of the amounts exceeding one crore rupees in one or more current accounts maintained with a banking company or a co-operative bank; or

(ii) has incurred expenditure of an amount or aggregate of the amounts exceeding two lakh rupees for himself or any other person for travel to a foreign country; or

(iii) has incurred expenditure of an amount or aggregate of the amounts exceeding one lakh rupees towards consumption of electricity; or

(iv) fulfills such other conditions as may be prescribed,

shall furnish a return of his income on or before the due date in such form and verified in such manner and setting forth such other particulars, as may be prescribed.