ITR filing requirement


Anurag Jain   17 June 2019

Anurag Jain

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I have earned stipend income of Rs 240,000 during PY 2018-19. Also, might have some bank interest of around 11,000.
Am I supposed to file return?

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Dhirajlal Rambhia (KVO Merau Kutchh)     17 June 2019

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Depends upon nature of stipend earned, but in general.... YES.

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Anurag Jain   17 June 2019

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Where are the provisions about the stipend income? It is CA stipend though

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Dhirajlal Rambhia (KVO Merau Kutchh)     17 June 2019

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Any stipend received by an Article Clerk from a Chartered Accountant is exempt u/s. 10(16) of IT act; so report it in 'Schedule EI'

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Anurag Jain   17 June 2019

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So no taxability, but have to file return. Right?

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Dhirajlal Rambhia (KVO Merau Kutchh)     17 June 2019

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Its always advisable to file ITR whenever aggregate income exceed BEL, be it taxable or not. Because of digital revolution, non-filers notices are abundant. 

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RAJA P M ("Do the Right Thing...!!!")     17 June 2019

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Yes... I agreed to Mr Dhirajlal Rambhia Sir...


if income exceeding BEL then filing ITR is required if tax liability or not...

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