while considering filing of return by an individual/huf/aop/boi , limit of 2.5/3/5 lakhs is considered... is it on Gross total income or taxable income(after deduction) limit?
while considering filing of return by an individual/huf/aop/boi , limit of 2.5/3/5 lakhs is considered... is it on Gross total income or taxable income(after deduction) limit?
As per Sec. 139. (1) Every person,—
(a) being a company or a firm; or
(b) 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, 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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