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should we file income tax returns of individuals when gross total income exceed rs 250000 gti means income before deductions right?
Replies (1)
For Individual Mandatory to file return if GTI* exceeds basic exemption limit.
2,50,000 exemption is only for HUF,AOP,BOI,AJP and INDIVIDUAL BELOW 60 YEARS(Resident or NR)
*GTI: GTI means before giving effect of provisions of Chapter VI-A ie.Deduction
2,50,000 exemption is only for HUF,AOP,BOI,AJP and INDIVIDUAL BELOW 60 YEARS(Resident or NR)
*GTI: GTI means before giving effect of provisions of Chapter VI-A ie.Deduction
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